Note 2 - Income Per Share

6 Months Ended

Jun. 30, 2017

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

2.

   

Income

Per Share

Basic income per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted income per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. The calculation of diluted income per share excludes a

xx

number of unvested shares since the effect of any assumed exercise of the related awards would be anti-dilutive for the

three

and

six

months ended

June 30, 2017

and

2016,

respectively. There were

no

outstanding stock options at

June 30, 2017.

Income per share is the same for both Class A and Class B shares.

The following table sets forth for the periods indicated the calculation of net income per share included in the condensed consolidated statements of operations:

(in thousands except per share data)	Three Months ended June 30,				Six Months ended June 30,
	2017		2016		2017		2016
Numerator:
Net income	$	1,548	$	3,632	$	1,510	$	7,984
Denominator:
Denominator for basic earnings per share – weighted-average shares		18,281		18,189		18,269		18,168
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted stock		78		86		78		76
Equivalent shares issuable upon conversion of unvested employee stock options		-		-		-		-
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions		18,359		18,275		18,347		18,244
Basic and diluted income per share:	$	0.08	$	0.20	$	0.08	$	0.44