Earnings Per Share

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Earnings Per Share

(4) Earnings Per Share

Options to purchase approximately 853,000 and 728,000 shares of common stock that were outstanding as of September 30, 2023 were not included in the computation of diluted earnings per share for the three and nine-months ended September 30, 2023. The inclusion of these shares for the three and nine months ended September 30, 2023 would have resulted in an anti-dilutive effect and were thus omitted from disclosure. Options to purchase approximately 1,871,000 and 1,901,000 shares of common stock that were outstanding as of September 30, 2022 were not included in the computation of earnings per share for the three months and nine months ended September 30, 2022, respectively, as inclusion would have had an anti-dilutive impact due to losses.

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 September 30,						Nine months ended September 30,
	2023			2022			2023			2022
Numerator: (in Thousands)
Net loss	$	(1,436	)	$	(750	)	$	(2,262	)	$	(638	)
Denominator:
Weighted average number of basic shares outstanding		49,598,581			49,174,673			49,532,395			49,068,709
Weighted average additional shares assuming conversion of in-the-money stock options to common shares and assumed repurchase of common shares by the Company		—			—			—			—
Weighted average number of diluted common shares outstanding		49,598,581			49,174,673			49,532,395			49,068,709
Basic earnings per common share:
Net loss per share – basic	$	(0.03	)	$	(0.02	)	$	(0.05	)	$	(0.01	)
Diluted earnings per common share:
Net loss per share – diluted	$	(0.03	)	$	(0.02	)	$	(0.05	)	$	(0.01	)