Earnings Per Share

9 Months Ended

Sep. 30, 2022

Notes

Earnings Per Share

(8) Earnings Per Share. Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period.  Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 3rd quarter 2022.

The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

(in thousands)	Three months ended		Nine months ended
	September 30,		September 30,
	2022	2021	2022	2021
Numerator
Net income	4,280	4,206	11,918	10,656
Denominator
Weighted average shares, basic	3,625	3,647	3,641	3,645
Dilutive effect of stock options	9	11	9	11
Diluted shares	3,634	3,658	3,650	3,656
Earnings per share, basic	1.18	1.15	3.27	2.92
Earnings per share, diluted	1.18	1.15	3.26	2.91