EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2022

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 9 – EARNINGS PER SHARE

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

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Numerator:	(in thousands, except per share amounts)
Net income	$	3,199	$	4,193	$	16,310	$	7,790
Denominator:
Denominator for basic earnings per share – weighted average shares		8,876		8,806		8,904		8,826
Effect of dilutive securities:
Employee restricted stock and incentive stock options		111		141		158		150
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion		8,987		8,947		9,062		8,976
Basic earnings per share	$	0.36	$	0.48	$	1.83	$	0.88
Diluted earnings per share	$	0.36	$	0.47	$	1.80	$	0.87
Weighted average anti-dilutive employee restricted stock and incentive stock options		301		114		238		126