Note 16 - Earnings Per Share

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

16. Earnings Per Share

The computations of basic and diluted earnings per share were as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Numerator:
Net income	$	16.6	$	9.8	$	26.9	$	35.5
Denominator:
Basic - weighted average shares outstanding		18,507,073		18,547,276		18,485,367		18,501,930
Effect of dilutive securities:		176,725		384,427		250,546		377,686
Diluted - weighted average shares outstanding		18,683,798		18,931,703		18,735,913		18,879,616
Basic earnings per share	$	0.90	$	0.53	$	1.46	$	1.92
Diluted earnings per share	$	0.89	$	0.51	$	1.44	$	1.88

Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 698,378 and 143,505 shares of common stock during the three months ended June 30, 2022 and 2021, respectively. Excluded from the dilutive securities shown above were options to purchase and shares to be paid out under share-based compensation plans of 402,696 and 146,191 shares of common stock during the six months ended June 30, 2022 and 2021, respectively. These exclusions were made if the exercise prices of the options are greater than the average market price of our common stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted average shares outstanding in the options or if we have a net loss, as these effects would be anti-dilutive.