Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.1
Earnings Per Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings Per Share NOTE 12. EARNINGS PER SHARE

Basic earnings per share is computed by dividing earnings by the weighted average number of common shares outstanding during each period. Diluted earnings per share is computed by dividing earnings 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 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 per share:

Three Months Ended

March 31, 2022

March 31, 2021

Weighted average shares outstanding - basic

37,161

31,283

Effect of dilutive stock awards

2,435

1,467

Effect of dilutive deferred stock consideration for business acquisition

206

-

Weighted average shares outstanding - diluted

39,802

32,750

Net income per share:

Basic

$

0.14

$

0.18

Diluted

0.13

0.17

 

For the three months ended March 31, 2022 and 2021, equity awards of 1,329 and 500, respectively, were excluded from the calculation of earnings per share for these periods as they were anti-dilutive.