Earnings Per Share

6 Months Ended

Jun. 30, 2023

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 on June 30, 2023.

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

(in thousands)	Three months ended		Six months ended
	June 30,		June 30,
	2023	2022	2023	2022
Numerator
Net income	4,200	4,103	8,414	7,638
Denominator
Weighted average shares, basic	3,628	3,643	3,628	3,649
Dilutive effect of stock options	11	7	10	9
Diluted shares	3,639	3,650	3,638	3,658
Earnings per share, basic	1.16	1.13	2.32	2.09
Earnings per share, diluted	1.15	1.12	2.31	2.09