Note 2 - (Loss) Income Per Share

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 2. (Loss) Income   Per Share

Basic (loss) 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 (loss) 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 approximately

240,000

shares

 issuable upon conversion of unvested restricted shares for the 

three

months ended

March 31, 2020

. Such shares were

not

included in the computation of the diluted (loss) income per share for the same period as the inclusion would have been anti-dilutive due to the net loss. There were

no

outstanding stock options at

March 31, 2020

 or

March 31, 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 (loss) income per share included in the condensed consolidated statements of operations:

(in thousands except per share data)	Three Months Ended
	March 31,
	2020			2019
Numerator:
Net (loss) income	$	(2,213	)	$	4,433
Denominator:
Denominator for basic (loss) income per share – weighted-average shares		18,088			18,381
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted shares		-			152
Denominator for diluted (loss) income per share adjusted weighted-average shares and assumed conversions		18,088			18,533
Net (loss) income per share:
Basic and diluted net (loss) income per share	$	(0.12	)	$	0.24