EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2023

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 9 – EARNINGS PER SHARE

Basic earnings per share is calculated based on the weighted average number of common shares outstanding during each period.  Diluted earnings per share is calculated based on these same weighted average shares outstanding plus the effect of potential shares issuable upon assumed exercise of stock options based on the treasury stock method. 

Potential shares issuable upon the exercise of stock options are excluded from the calculation of diluted earnings per share to the extent their effect would be anti-dilutive.

The following table sets forth the computation of basic and diluted earnings per share:

	Three Months Ended
	March 31, 2023		March 31, 2022
(in thousands except per share data)
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)	$	95	($1,820)
Denominator for basic earnings (loss) per share:
Weighted-average shares		8,818		8,622
Employee stock options and awards		211		-
Denominator for diluted earnings (loss) per share:
Adjusted weighted-average shares & assumed conversions of stock options		9,029		8,622
Basic and diluted earnings (loss) per share:
Basic earnings (loss) per share	$	0.01	($0.21)
Diluted earnings (loss) per share	$	0.01	($0.21)

Options to purchase 12,500 were outstanding as of March 31, 2023 and 2022, but were excluded from the computation of diluted earnings per share for the periods then ended because the options were anti-dilutive.