Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
9 Months Ended
Sep. 30, 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

Nine Months Ended

September 30, 2022

September 30, 2021

September 30, 2022

September 30, 2021

Weighted average shares outstanding - basic

37,369

33,800

37,256

32,159

Effect of dilutive stock awards

2,061

2,364

2,246

1,885

Effect of dilutive deferred stock consideration for business acquisition

150

-

192

-

Weighted average shares outstanding - diluted

39,580

36,164

39,694

34,044

Net income per share:

Basic

$

0.07

$

0.13

$

0.32

$

0.37

Diluted

0.07

0.13

0.30

0.35

 

For the three months ended September 30, 2022 and 2021, equity awards of 1,713 and 1,000, respectively, and for the nine months ended September 30, 2022 and 2021, equity awards of 1,560 and 1,011, respectively, were excluded from the calculation of earnings per share for these periods as they were anti-dilutive.