| EARNINGS PER SHARE |
NOTE N - 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 years ended December 31, (in thousands, except share and per share data):
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
2022 |
|
2021 |
Net (loss) income |
|
$ |
(5,563) |
|
$ |
43,861 |
|
$ |
36,115 |
Less: change in FV of warrants |
|
|
(2,270) |
|
|
- |
|
|
- |
Income (loss) attributable to common shareholders for EPS |
|
$ |
(7,833) |
|
$ |
43,861 |
|
$ |
36,115 |
|
|
|
|
|
|
|
|
|
|
Weighted-average number of shares outstanding - basic |
|
|
51,291,424 |
|
|
51,568,436 |
|
|
43,193,995 |
Additional shares from assumed exercise of warrants |
|
|
166,397 |
|
|
141 |
|
|
3,070,762 |
Additional shares from assumed stock-settled restricted stock units |
|
|
- |
|
|
1,577,062 |
|
|
1,040,883 |
Additional shares issued under the Employee Stock Purchase Plan |
|
|
- |
|
|
- |
|
|
4,460 |
Weighted-average number of shares outstanding - diluted |
|
|
51,457,821 |
|
|
53,145,639 |
|
|
47,310,100 |
|
|
|
|
|
|
|
|
|
|
Earnings per share - basic: |
|
$ |
(0.11) |
|
$ |
0.85 |
|
$ |
0.84 |
Earnings per share - diluted: |
|
$ |
(0.15) |
|
$ |
0.83 |
|
$ |
0.76 |
|
|
|
|
|
|
|
|
|
|
Shares/units excluded from earnings per share - dilutive: |
|
|
|
|
|
|
|
|
|
Additional shares from assumed exercise of Private Warrants |
|
|
- |
|
|
212,540 |
|
|
- |
Additional shares from assumed stock-settled restricted stock units |
|
|
192,687 |
|
|
- |
|
|
- |
|