Earnings Per Share

6 Months Ended

Jun. 30, 2023

Earnings per share:

Earnings Per Share

(6) Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2023 and 2022 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2023 and 2022: 

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		20,866		21,370		20,643		21,296
Incremental common shares attributable to exercise of outstanding options and warrants		4,507		6,317		4,741		6,647
Weighted average number of common shares used to compute diluted earnings per share		25,373		27,687		25,384		27,943

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and six-month periods ended June 30, 2023 would have included an additional 1.5 million and 1.5 million shares, respectively, attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2022, 824,000 and 692,000 shares, respectively, would be included in the diluted earnings per share calculation.