EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2024

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

2. EARNINGS (LOSS) PER SHARE

Earnings (loss) per share are calculated as follows (in thousands, except earnings per share):

	Three Months Ended June 30,					Six Months Ended June 30,
	2024		2023			2024		2023
Basic earnings (loss) per common share
Net income (loss)	$	1,981	$	(782	)	$	3,129	$	(701	)
Weighted average shares outstanding		5,322		5,256			5,315		5,256
Basic earnings (loss) per common share	$	0.37	$	(0.15	)	$	0.59	$	(0.13	)
Diluted earnings (loss) per common share
Net income (loss)	$	1,981	$	(782	)	$	3,129	$	(701	)
Weighted average shares outstanding		5,322		5,256			5,315		5,256
Dilutive effect of restricted stock		1		—			1		—
Total weighted average shares outstanding		5,323		5,256			5,316		5,256
Diluted earnings (loss) per common share	$	0.37	$	(0.15	)	$	0.59	$	(0.13	)

There was no restricted stock excluded from the diluted earnings per share calculation for the three and six month periods ended June 30, 2024. The calculation of diluted net loss per common share for the three and six months ended June 30, 2023 excludes unvested restricted stock of 47,851 shares, which would have been anti-dilutive for the period.