Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Earnings (Loss) Per Share

v3.20.2
Note 10 - Earnings (Loss) Per Share
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]
10.
     
Earnings
(
Loss
)
Per Share
 
Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share assumes the issuance of potentially dilutive shares of common stock during the period. The following table reconciles the numerators and denominators of the basic and diluted income (loss) per share computations:
 
   
Three Months Ended June 30,
    
Six Months Ended June 30,
  
 
  
2020
    
2019
    
2020
    
2019
  
Numerator:                                
Net income (loss)
(in thousands)
   $
4,140
     $
381
     $
3,722
     $
(579
 )
Denominator:
                                
Weighted average common shares outstanding:
                                
Basic
    
20,082,590
      
19,708,422
      
20,000,444
      
19,644,590
  
Dilutive effect of common stock equivalents
    
1,553,115
      
875,012
      
1,597,627
      
-
  
Diluted
    
21,635,705
      
20,583,434
      
21,598,071
      
19,644,590
  
Net income (loss) per share:
                                
Basic
   $
0.21
     $
0.02
     $
0.19
     $
(0.03
 )
Diluted
   $
0.19
     $
0.02
     $
0.17
     $
(0.03
 )
 
For both the
three
and
six
months ended
June 30, 2020,
less than
0.1
million of outstanding options and restricted stock units with an exercise price above the current market value of the Company's common stock were
not
included in the calculation because they would have an anti-dilutive effect. For the
three
months ended
June 30, 2019,
less than
0.1
million of outstanding options and restricted stock units with an exercise price above the current market value of the Company's common stock were
not
included in the calculation because they would have an anti-dilutive effect. For the
six
months ended
June 30, 2019,
all outstanding options and restricted stock units were anti-dilutive due to the Company's net loss for the period and therefore
not
included in the calculation.