| Earnings Per Share |
(4)
Earnings Per Share
Included
in the computation of diluted earnings per share for the three and nine months ended September 30, 2024 was a total of 2,062,000
and 1,947,000 in potential common stock, respectively. 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, respectively. 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.
Earnings
applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:
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Three months ended
September 30, | | |
Nine months ended
September 30, | |
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2024 | | |
2023 | | |
2024 | | |
2023 | |
| Numerator: (in Thousands) | |
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| Net income (loss) | |
$ | 3,045 | | |
$ | (1,436 | ) | |
$ | 4,793 | | |
$ | (2,262 | ) |
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| Denominator: | |
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| Weighted average number of basic shares outstanding | |
| 69,873,394 | | |
| 49,598,581 | | |
| 59,778,119 | | |
| 49,532,395 | |
| Weighted average additional shares assuming conversion of in-the-money stock options to common shares | |
| 2,062,000 | | |
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| 1,947,000 | | |
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| Weighted average number of diluted common shares outstanding | |
| 71,935,394 | | |
| 49,598,581 | | |
| 61,725,119 | | |
| 49,532,395 | |
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| Basic earnings per common share: | |
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| Net income (loss) per share – basic | |
$ | 0.04 | | |
$ | (0.03 | ) | |
$ | 0.08 | | |
$ | (0.05 | ) |
| Diluted earnings per common share: | |
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| Net income (loss) per share – diluted | |
$ | 0.04 | | |
$ | (0.03 | ) | |
$ | 0.08 | | |
$ | (0.05 | ) |
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