Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

Earnings Per Share

3 Months Ended

Mar. 31, 2023

NOTE 11. 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, 2023		March 31, 2022

Weighted average shares outstanding - basic		37,137		37,161
Effect of dilutive stock awards		750		2,435
Effect of dilutive deferred stock consideration for business acquisition		222		206
Weighted average shares outstanding - diluted		38,109		39,802

Net income per share:
Basic	$	0.04	$	0.14
Diluted		0.04		0.13

For the three months ended March 31, 2023 and 2022, equity awards of 3,713 and 1,329, respectively, were excluded from the calculation of earnings per share for these periods as they were anti-dilutive.