Note 5 - Earnings Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

5.

Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended March 31,
	2020		2019
Numerator:
Net income	$	41,443	$	(25,455	)
Denominator:
Denominator for basic earnings per share – weighted-average common shares outstanding		169,723		166,041
Effect of dilutive securities:
Stock options and restricted shares		-		-
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed exercise of options and restricted shares		169,723		166,041
Net income per common share - basic	$	0.24	$	(0.15	)
Net income per common share - diluted	$	0.24	$	(0.15	)

Basic earnings per share, excluding any dilutive effects of stock options and unvested restricted stock, is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income per share is computed similar to basic; however diluted income per share reflects the assumed conversion of all potentially dilutive securities. For the

three

month period ended

March 31, 2019,

1,582

of potential shares relating to stock options, unvested restricted shares and unvested performance based restricted shares were excluded from the calculation of diluted income (loss) per share since their inclusion would have been anti-dilutive due to the loss incurred in the period. For the

three

month period ended

March 31, 2020 

there was 

no

dilutive potential shares relating to stock options and restricted stock due to our depressed stock price.