Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share

Note 3 – Earnings Per Share

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of potential common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(In thousands, except per share data)	2020		2019		2020		2019
Net income from continuing operations	$	5,335	$	4,228	$	8,453	$	8,056
Net loss from discontinued operations		-		(4)		-		(78)
Net Income	$	5,335	$	4,224	$	8,453	$	7,978
Weighted average shares outstanding - Basic		12,524		12,779		12,519		12,774
Dilutive effect of common stock equivalents-options		1		5		2		5
Weighted average shares outstanding - Diluted		12,525		12,784		12,521		12,779
Basic earnings per common share
Income from continuing operations	$	0.43	$	0.33	$	0.68	$	0.63
Loss from discontinued operations		—		—		—		(0.01)
Net income	$	0.43	$	0.33	$	0.68	$	0.62
Diluted earnings per common share
Income from continuing operations	$	0.43	$	0.33	$	0.68	$	0.63
Loss from discontinued operations		—		—		—		(0.01)
Net income	$	0.43	$	0.33	$	0.68	$	0.62

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2020 and 2019.