Earnings Per Share

3 Months Ended

Mar. 31, 2024

Notes

Earnings Per Share

(8) Earnings Per Share. Basic earnings per share were calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during each applicable period.  Diluted earnings per share were calculated by assuming the exercise of stock options at the closing price of stock at the end of first quarter 2024 and 2023, as applicable.

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

(in thousands)	Three months ended
	March 31,
	2024	2023
Numerator
Net income	3,956	4,214
Denominator
Weighted average shares, basic	3,618	3,628
Dilutive effect of stock options	-	8
Diluted shares	3,618	3,636
Earnings per share, basic	$ 1.09	$ 1.16
Earnings per share, diluted	$ 1.09	$ 1.16