Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.22.2
EARNINGS PER SHARE
6 Months Ended
Jun. 30, 2022
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE K — EARNINGS PER SHARE

The computation of basic and diluted earnings per share (“EPS”) is based on the weighted average number of common shares outstanding during each period.

The following table provides a reconciliation of the computation for basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021, respectively (in thousands, except share and per share data):

    

Three Months Ended June 30, 

Six Months Ended June 30, 

2022

    

2021

    

2022

    

2021

Net income

$

26,455

$

16,548

$

43,681

$

26,566

Change in fair value of warrant liability

 

(1,382)

 

407

 

(148)

 

631

Net income for EPS - diluted

$

25,073

$

16,955

$

43,533

$

27,197

Weighted-average number of shares outstanding - basic

 

51,691,076

 

42,949,261

 

51,688,837

 

42,584,793

Additional shares from assumed stock-settled restricted stock units

2,035,155

237,243

2,049,295

186,420

Additional shares from assumed exercise of warrants

156,011

1,063,357

173,148

1,469,201

Additional shares purchasable for employee stock purchase plan

-

-

-

-

Weighted-average number of shares outstanding - diluted

53,882,242

44,249,861

53,911,280

44,240,414

Earnings per share – basic:

$

0.51

$

0.39

$

0.85

$

0.62

Earnings per share – diluted:

$

0.47

$

0.38

$

0.81

$

0.61