Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.22.2.2
Earnings Per Share
 9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
(in thousands, except per share data) 2022 2021 2022 2021
Numerator:    
Net income $ 624  $ 8,199  $ 21,941  $ 12,179 
Denominator:    
Denominator for basic earnings per share - weighted average shares
 10,253  9,287  10,235  9,237 
Effect of dilutive securities:    
Employee stock options and stock grants 212  116  172  111 
Denominator for diluted earnings per share - weighted average shares
 10,465  9,403  10,407  9,348 
Net income per share:
Basic $ 0.06  $ 0.88  $ 2.14  $ 1.32 
Diluted $ 0.06  $ 0.87  $ 2.11  $ 1.30 
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 an insignificant number of shares that were anti-dilutive for the three and nine months ended September 30, 2022. The Company had 0.3 million and 0.2 million shares of common stock that were anti-dilutive for both the three and nine months ended September 30, 2021.