Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v3.22.4
Earnings Per Share
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share NOTE 12. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed by dividing earnings (loss) by the weighted average number of common shares outstanding during each period. Diluted earnings (loss) per share is computed by dividing earnings (loss) by the total of the weighted average number of shares of common stock outstanding during each period, plus the effect of dilutive outstanding stock options and unvested restricted stock grants. Potentially dilutive securities are excluded from the computation of diluted earnings (loss) per share if their effect is anti-dilutive to the loss from continuing operations.

The following table is a reconciliation of basic and diluted shares of common stock outstanding used in the calculation of earnings (loss) per share:

Year Ended December 31,

2022

2021

2020

Weighted average shares outstanding - basic

37,201

33,136

30,175

Effect of dilutive stock awards

-

2,509

1,050

Effect of dilutive deferred stock consideration for business acquisition

-

41

-

Weighted average shares outstanding - diluted

37,201

35,686

31,225

Net (loss) income per share:

Basic

$

(1.88)

$

0.79

$

0.18

Diluted

(1.88)

0.73

0.18

 

 

For the years ended December 31, 2022, 2021, and 2020, equity awards of 6,060, 509, and 868, respectively, were outstanding and anti-dilutive and therefore not included in the calculation of net (loss) income per share for these periods.