Earnings per Share

3 Months Ended

Mar. 31, 2024

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three month periods ended March 31, 2024 and March 31, 2023, we paid no dividends on our Common Stock.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:


	Three Months Ended
	March 31,
	2024		2023
Earnings (numerator)
Net income attributable to common stockholders	$	14,038	$	71,150

Shares (denominator)
Weighted average common shares outstanding (basic)		46,032		45,600
Dilutive effect of stock options and stock awards outstanding		253		561
Adjusted weighted average common shares outstanding (diluted)		46,285		46,161

Earnings per share attributable to common stockholders
Basic	$	0.30	$	1.56
Diluted	$	0.30	$	1.54

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		326		75