Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

v3.22.1
Earnings (Loss) Per Share
3 Months Ended
Mar. 31, 2022
Earnings (Loss) Per Share  
Earnings (Loss) Per Share

12.Earnings (Loss) per Share

Basic earnings (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share of common stock is computed by dividing net income (loss) by the weighted average number of common shares, using the two-class method. As the Company has granted RSUs that both participate in dividend equivalents and do not participate in dividend equivalents, the Company has calculated earnings (loss) per share pursuant to the two-class method, which is an earnings allocation formula that determines earnings (loss) per share for common stock and participating securities according to dividends declared and participation rights in undistributed losses. Under this method, all earnings (distributed and undistributed) are allocated to common shares and participating securities based on their respective rights to receive dividends. Diluted net earnings (loss) per share is calculated by dividing net earnings (loss) attributable to common stockholders by the weighted average number of common stock and dilutive common stock outstanding during the period.  Potential common shares in the diluted net income (loss) per share computation are excluded to the extent that they would be anti-dilutive. Weighted average of potentially dilutive non-participating RSU’s were 5,194 in the three months ended March 31, 2022.

Three Months Ended

March 31,

March 31,

2022

2021

Basic earnings (loss) per common share

Net income (loss)

$

(3,908)

$

742

Less income allocated to participating securities

-

11

Net income (loss) allocated to common shareholders

$

(3,908)

$

731

Weighted average common shares outstanding

22,982,538

22,881,416

$

(0.18)

$

0.03

Earnings (loss) per common share assuming dilution

Net income (loss)

$

(3,908)

$

742

Less income allocated to participating securities

-

11

Net income (loss) allocated to common shareholders

$

(3,908)

$

731

Weighted average common shares outstanding

22,982,538

22,881,416

Incremental shares applicable to non-participating RSUs

-

20,563

Weighted average common shares assuming dilution

22,982,538

22,901,979

$

(0.18)

$

0.03