Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.23.3
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2023
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 nine months ended September 30, 2023 and 2022, respectively (in thousands, except share and per share data):

    

Three Months Ended September 30, 

Nine Months Ended September 30, 

2023

    

2022

    

2023

    

2022

Net (loss) income

$

(148)

$

(9,013)

$

(2,831)

$

34,668

Change in fair value of warrant liability

-

 

-

 

(1,004)

 

-

Net (loss) income for EPS - Diluted

$

(148)

$

(9,013)

$

(3,835)

$

34,668

Weighted-average number of shares outstanding - basic

 

51,321,026

 

51,745,354

 

51,252,581

 

51,707,809

Additional shares from assumed stock-settled restricted stock units

-

-

-

2,326,858

Additional shares from assumed exercise of warrants

-

-

177,624

180

Additional shares issued under the employee stock purchase plan

-

-

-

1,555

Weighted-average number of shares outstanding - diluted

51,321,026

51,745,354

51,430,205

54,036,402

(Loss) earnings per share – basic:

$

-

$

(0.17)

$

(0.06)

$

0.67

(Loss) earnings per share – diluted:

$

-

$

(0.17)

$

(0.07)

$

0.64

Anti-dilutive shares/units excluded from earnings per share - diluted:

Additional shares from assumed exercise of warrants

126,154

188,150

-

179,695

Additional shares from assumed stock-settled restricted stock units

2,007,217

2,415,638

1,869,782

-

Additional shares purchasable for employee stock purchase plan

6,542

4,626

1,043

-