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Note 7 - Net Income (Loss) Per Share
6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Earnings Per Share [Text Block]

7. Net Income (Loss) Per Share

 

The calculations of net income (loss) per share were as follows:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2022

  

2021

  

2022

  

2021

 
  

(Unaudited - In thousands, except per share data)

 

Basic:

                

Net income (loss)

 $483  $(320) $(6,226) $17,305 

Weighted average common shares outstanding

  16,356   20,856   16,468   20,879 

Net income (loss) per share

 $0.03  $(0.02) $(0.38) $0.83 
                 

Diluted:

                

Net income (loss) for dilutive share computation

 $483  $(320) $(6,226) $17,305 
                 

Number of shares used in basic per share computation

  16,356   20,856   16,468   20,879 

Unvested restricted stock and DSU's

            

Employee stock options

            

Weighted average common shares outstanding

  16,356   20,856   16,468   20,879 
                 

Net income (loss) per dilutive share

 $0.03  $(0.02) $(0.38) $0.83 

 

Basic and diluted average common shares outstanding for purposes of computing net income (loss) per share includes outstanding common shares and vested deferred stock units (DSUs).

 

If an equity method company has dilutive stock options, unvested restricted stock, DSUs or warrants, diluted net income (loss) per share is computed by first deducting the income attributable to the potential exercise of the dilutive securities of the company from net income (loss). Any impact is shown as an adjustment to net income (loss) for purposes of calculating diluted net income (loss) per share.

 

Diluted earnings per share do not reflect the following potential shares of common stock that would have an anti-dilutive effect or have unsatisfied performance or market conditions:

 

 

At June 30, 2022 and 2021, options to purchase 18 thousand and 43 thousand shares of common stock, respectively, at prices ranging from $10.37 to $17.11 and $10.37 to $17.11, respectively, were excluded from the calculations.

   
 

At June 30, 2022 and 2021, unvested restricted stock and performance-based stock units convertible into 0.1 million and 0.3 million shares of stock, respectively, were excluded from the calculations.