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 [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands, except per share data) 2022 2021 2022 2021
Numerator:    
Net income $ 11,057  $ 2,886  $ 21,317  $ 3,980 
Denominator:    
Denominator for basic earnings per share - weighted average shares
 10,244  9,233  10,226  9,212 
Effect of dilutive securities:    
Employee stock options and stock grants 187  98  151  103 
Denominator for diluted earnings per share - weighted average shares
 10,431  9,331  10,377  9,315 
Net income per share:
Basic $ 1.08  $ 0.31  $ 2.08  $ 0.43 
Diluted $ 1.06  $ 0.31  $ 2.05  $ 0.43 
The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had 0.1 million shares of common stock that were anti-dilutive for the three months ended June 30, 2022. The Company had an insignificant number of shares that were anti-dilutive for the six months ended June 30, 2022. The Company had 0.2 million shares of common stock that were anti-dilutive for both the three and six months ended June 30, 2021.