Net Income per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Income per Share

Note 2. Net Income per Share

Basic net income per share is computed using the weighted-average number of outstanding shares of common stock. Diluted net income per share is computed using the weighted-average number of outstanding shares of common stock, and when dilutive, shares of common stock issuable upon exercise of options and warrants deemed outstanding using the treasury stock method.

The following table shows the computation of basic and diluted net income per share for the following periods (in thousands, except per share amounts):

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	565	$	13,970	$	4,043	$	17,359
Denominator:
Weighted-average shares outstanding		12,835		12,796		12,833		12,794
Effect of dilutive securities		50		38		49		28
Weighted-average diluted shares		12,885		12,834		12,882		12,822
Basic net income per share	$	0.04	$	1.09	$	0.32	$	1.36
Diluted net income per share	$	0.04	$	1.09	$	0.31	$	1.35

For the three months ended June 30, 2022 and 2021, outstanding options to purchase shares of common stock and outstanding shares of restricted stock in an aggregate of approximately 308,000 and 391,000, respectively, have been excluded from the calculation of diluted net income per share, as such securities were anti-dilutive. For the six months ended June 30, 2022 and 2021, outstanding options to purchase shares of common stock and outstanding shares of restricted stock in an aggregate of approximately 309,000 and 401,000, respectively, have been excluded from the calculation of diluted net income per share, as all such securities were anti-dilutive.