Note 18 - Earnings Per Share ("EPS")

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

18. Earnings per Share (“EPS”)

Basic EPS is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic EPS. Diluted EPS is calculated by dividing net income by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding share-based awards using the treasury stock method.

The following table provides share information used in the calculation of the Company's basic and diluted EPS (in thousands):

	Years Ended December 31,
	2024		2023		2022
Shares used in the calculation of basic EPS		14,721		14,656		14,561
Effect of dilutive securities:
Share based awards		-		-		226
Diluted shares used in the calculation of EPS		14,721		14,656		14,787

The Company was in a loss position during the years ended December 31, 2024, 2023 and 2022, therefore all potential common shares would have been anti-dilutive and accordingly were excluded from the computation of diluted EPS.