EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2025

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of the Company’s common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):


	Three months ended September 30,				Nine months ended September 30,
	2025		2024		2025		2024

Numerator:
Net income (loss)	$	(2,261)	$	1,129	$	(553)	$	1,290

Denominator:
Weighted average shares of common stock outstanding	10,991		10,937		10,977		10,928
Effect of dilutive common stock equivalents	—		34		—		31
Weighted average shares of common stock outstanding	10,991		10,971		10,977		10,959

Earnings (loss) per share - basic	$	(0.21)	$	0.10	$	(0.05)	$	0.12

Earnings (loss) per share - diluted	$	(0.21)	$	0.10	$	(0.05)	$	0.12

The Company was in a loss position for the three and nine months ended September 30, 2025, and as such all awards were anti-dilutive for those periods. If the Company were not in a loss position, the calculation of diluted EPS would have excluded 308 thousand and 329 thousand antidilutive restricted stock awards for the three and nine months ended September 30, 2025, respectively. The calculation of diluted EPS excluded 395 thousand and 331 thousand antidilutive restricted stock awards for the three and nine months ended September 30, 2024, respectively. EPS is computed independently for each of the periods presented above, and accordingly, the sum of the quarterly earnings per share may not equal the year-to-date total computed.