EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE:

The following table summarizes the calculation of earnings per share: 

	Quarter Ended March 31,
(in thousands, except share and per share data)	2023		2022
Net income	$	5,058	$	19,951
Weighted average shares:
Basic weighted-average number of common shares outstanding	18,755,453		19,585,753
Dilutive effect of outstanding common stock equivalents	16,446		206,160
Diluted weighted-average number of common shares outstanding	18,771,899		19,791,913
Net income per share:
Basic earnings per share	$	0.27	$	1.02
Diluted earnings per share	0.27		1.01

(1) Excluded from the computation of diluted earnings per share (due to their antidilutive effect) for the quarter ended March 31, 2023 and 2022 were certain unvested RSUs and PSUs. Based on a weighted average basis, 251,821 and 13,040 unvested stock units convertible into shares of common stock were excluded for the quarters ended March 31, 2023 and 2022, respectively, because their effect would have been anti-dilutive.