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Note 7 - Earnings Per Share
6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Earnings Per Share [Text Block]

7. Earnings Per Share

 

The Company calculates basic and diluted earnings per share in accordance with ASC 260, “Earnings Per Share,” using the treasury stock method. 

 

Basic earnings per common share excludes dilution and is calculated by dividing earnings to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing earnings to common shares by the weighted-average number of common shares, as adjusted for the potentially dilutive effect of unvested RSUs and PRSUs. RSAs are included in shares outstanding on the date of grant.

 

The following table reconciles earnings (loss) per share:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2024

  

2023

  

2024

  

2023

 

Basic Earnings (Loss) per Share:

                

Net loss — basic

 $(9,270) $(10,623) $(19,608) $(24,663)

Weighted average shares outstanding — basic

  21,392   20,162   21,061   20,128 

Basic loss per share

 $(0.43) $(0.53) $(0.93) $(1.23)
                 

Diluted Earnings (Loss) per Share:

                

Net loss — diluted

 $(9,270) $(10,623) $(19,608) $(24,663)

Weighted average shares outstanding — diluted

  21,392   20,162   21,061   20,128 

Diluted loss per share

 $(0.43) $(0.53) $(0.93) $(1.23)

 

The following table indicates the stock equivalents related to unvested RSUs and PRSUs that were anti-dilutive and excluded from diluted earnings (loss) per share calculations:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2024

  

2023

  

2024

  

2023

 

Anti-dilutive shares due to:

                

Exercise prices higher than the average market price

     50      50 

Net loss

     33   206   46