Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.24.3
Net Income Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Net Income Per Share Net Income Per Share
 
Basic net income per common share (“Basic EPS”), is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share.
Following is a reconciliation of the numerator and denominator of Basic EPS to the numerator and denominator of Diluted EPS for the three and nine months ended September 30, 2024 and 2023 (dollar and share amounts in thousands, except for per share information):
  Three Months Ended
September 30,		 Nine Months Ended
September 30,
  2024 2023 2024 2023
Net income attributable to common shareholders $ 4,347  $ 2,832  $ 8,017  $ 6,114 
Basic weighted average shares outstanding 18,512  19,133  18,661  19,093 
Basic earnings per share attributable to common shareholders $ 0.23  $ 0.15  $ 0.43  $ 0.32 
Diluted shares outstanding:        
Basic weighted-average shares outstanding 18,512  19,133  18,661  19,093 
Stock-based awards 378  359  454  357 
Diluted weighted-average shares outstanding 18,890  19,492  19,115  19,450 
Diluted earnings per share attributable to common shareholders $ 0.23  $ 0.15  $ 0.42  $ 0.31 
Dilutive shares excluded from diluted-per-share amounts:        
Share-based awards 754  735  754  735 
Anti-dilutive shares excluded from diluted-per-share amounts:        
Share-based awards —  25  —  50 

Potentially dilutive shares excluded from diluted-per-share amounts include performance-based restricted stock units, for which certain metrics have not been achieved. Potentially anti-dilutive shares excluded from diluted-per-share amounts include both non-qualified stock options and unearned performance-based options to purchase shares of common stock with exercise prices greater than the weighted-average share price during the period and shares that would be anti-dilutive to the computation of diluted net income per share for each of the periods presented.