Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

(4) Earnings Per Share

Options to purchase approximately 569,000 of common stock that were outstanding as of June 30, 2023 were included in the computation of diluted earnings per share for the three months ended June 30, 2023. Options to purchase approximately 726,000 shares of common stock that were outstanding as of June 30, 2023 were not included in the computation of diluted earnings per share for the six months ended June 30, 2023, respectively. The inclusion of these shares for the six months ended June 30, 2023 would have resulted in an anti-dilutive effect and were thus omitted from disclosure. Options to purchase approximately 1,963,000 and 1,976,000 shares of common stock that were outstanding as of June 30, 2022 were included in the computation of earnings per share for the three months and six months ended June 30, 2022, respectively.

Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:  

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023			2022
Numerator: (in Thousands)
Net (loss) income	$	333	$	50	$	(825	)	$	112
Denominator:
Weighted average number of basic shares outstanding		49,567,338		49,045,047		49,498,755			49,014,847
Weighted average additional shares assuming conversion of in-the-money stock options to common shares and assumed repurchase of common shares by the Company		569,000		1,963,000		—			1,976,000
Weighted average number of diluted common shares outstanding		50,136,338		51,008,047		49,498,755			50,990,847
Basic earnings per common share:
Net income (loss) per share – basic	$	0.01	$	0.00	$	(0.02	)	$	0.00
Diluted earnings per common share:
Net income (loss) per share – diluted	$	0.01	$	0.00	$	(0.02	)	$	0.00