Note 2 - Income Per Share

6 Months Ended

Jun. 30, 2019

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. There were

no

anti-dilutive shares for the

three

or

six

months ended

June 30, 2019.

There were

no

outstanding stock options at

June 30, 2019.

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				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Numerator:
Net income	$	6,071	$	9,971	$	10,504	$	14,388
Denominator:
Denominator for basic income per share – weighted-average shares		18,438		18,337		18,410		18,334
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted shares		168		104		160		90
Denominator for diluted income per share adjusted weighted-average shares and assumed conversions		18,606		18,441		18,570		18,424
Net income per share:
Basic and diluted income per share	$	0.33	$	0.54	$	0.57	$	0.78