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EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2022
EARNINGS PER SHARE  
EARNINGS PER SHARE

15. EARNINGS PER SHARE

Basic earnings per common share (“EPS”) is computed based on the weighted-average number of common shares outstanding during each reporting period. Diluted EPS is based on the weighted-average number of common shares outstanding plus the number of additional shares that would have been outstanding had the dilutive common shares been issued. The following table reconciles the numerators and denominators used in the computations of both basic and diluted EPS.

Three months ended

Nine months ended

September 30, 

September 30, 

2022

    

2021

2022

    

2021

Numerator:

Net income (in 000's)

$

14,735

$

12,993

$

48,088

$

36,341

Denominator:

Basic weighted-average common shares outstanding

24,406,020

24,204,362

24,356,809

24,202,053

Effect of dilutive securities:

Restricted stock grants

260,114

13,280

267,796

10,478

Stock options

712,982

66,024

399,883

67,315

Diluted weighted-average common shares outstanding

25,379,116

24,283,666

25,024,488

24,279,846

Earnings per share attributable to Legacy Housing Corporation

Basic

$

0.60

$

0.54

$

1.97

$

1.50

Diluted

$

0.58

$

0.54

$

1.92

$

1.50