Earnings Per Share

6 Months Ended

Jun. 30, 2021

Note 3.

Earnings per Share

Per share data is determined by using the weighted average number of common shares outstanding. Common equivalent shares are considered only for diluted earnings per share, unless considered anti-dilutive. Common equivalent shares, determined using the treasury stock method, result from stock options with exercise prices that are below the average market price of the common stock.

Basic earnings per share include no dilution and are computed by dividing income available to common shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share reflect the potential of securities that could share in our earnings.

A reconciliation of the weighted average number of common shares outstanding (in thousands) is as follows. The dilutive effect of stock options and RSUs are excluded for periods in which the Company has a net loss because the impact is anti-dilutive.

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Common shares outstanding, beginning of the period		12,618		12,462		12,618		12,462
Weighted average common shares issued		-		-		-		-
Weighted average number of common shares outstanding		12,618		12,462		12,618		12,462
Dilutive effect of common share equivalents		-		-		-		109
Diluted weighted average number of common shares outstanding		12,618		12,462		12,618		12,571

Common stock equivalents (in thousands) that have been excluded from the calculation of earnings per share because they would have been anti-dilutive:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Stock options		15		258		15		258