Note 7 - Earnings Per Share

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE

7

– Earnings Per Share:

Historical basic per share data is based on the weighted average number of shares outstanding. Historical diluted per share data is reconciled by adding to weighted average shares outstanding the dilutive impact of the exercise of outstanding stock options, stock appreciation rights, unvested shares of restricted stock and performance shares.

	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Net earnings used in the computation of basic and diluted earnings per share (in thousands)	$	3,817	$	4,341	$	6,267	$	8,176
Weighted average shares outstanding - basic		14,956,221		14,501,399		14,888,940		14,426,060
Common stock equivalents		603,183		539,032		619,577		559,003
Weighted average shares outstanding - diluted		15,559,404		15,040,431		15,508,517		14,985,063
Per Share Data:
Basic
Net earnings	$	0.26	$	0.30	$	0.42	$	0.57
Diluted
Net earnings	$	0.25	$	0.29	$	0.40	$	0.55

There were

no

awards to purchase shares of common stock outstanding during the

three

-month period ending

June 30, 2018

and

June 30, 2017

excluded from the computation of diluted EPS because the award’s exercise prices were greater than the average market price of the common shares.

Awards to purchase approximately

149,800

shares of common stock with a weighted average exercise price of

$18.65

per share were outstanding during the

six

-month period ending

June 30, 2017,

but were

not

included in the computation of diluted EPS because the awards’ exercise prices were greater than the average market price of the common shares. There were

no

such awards outstanding during the

six

-month period ending

June 30, 2018.