Note 5 - Earnings Per Share

9 Months Ended

Sep. 30, 2022

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 September 30,					Nine Months Ended September 30,
	2022		2021			2022		2021
Numerator:
Net income (loss)	$	292	$	(1,245	)	$	43,110	$	(38,940	)
Denominator:
Denominator for basic earnings per share – weighted-average common shares outstanding		9,705		8,406			9,281		8,406
Effect of dilutive securities:
Stock options, restricted shares and warrants				-					-
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed exercise of options and restricted shares		9,705		8,406			9,281		8,406
Net income (loss) per common share - basic	$	0.03	$	(0.15	)	$	4.64	$	(4.63	)
Net income (loss) per common share - diluted	$	0.03	$	(0.15	)	$	4.64	$	(4.63	)

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 and nine month periods ended  September 30, 2021 there were no dilutive potential shares relating to stock options and restricted stock due to our depressed stock price.