Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Earnings Per Share

v3.20.2
Note 8 - Earnings Per Share
3 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 8. Earnings Per Share:

 

The following table reflects the calculation of basic and diluted earnings per share (in thousands, except per share amounts):

 

   

Quarter Ended

September 30,

 
   

2020

    2019  

Earnings per share – basic:

               

Net Income

  $ 33,395     $ 14,398  

Income allocated to participating securities

    (21

)

    (11

)

Income available to common shareholders

  $ 33,374     $ 14,387  

Weighted-average shares outstanding

    38,536       38,032  

Earnings per share-basic

  $ 0.87     $ 0.38  
                 

Earnings per share – diluted:

               

Net Income

  $ 33,395     $ 14,398  

Income allocated to participating securities

    (21

)

    (11

)

Income available to common shareholders

  $ 33,374     $ 14,387  

Weighted average common shares outstanding-basic

    38,536       38,032  

Dilutive effect of stock options and restricted stock units

    1,489       1,221  

Weighted average common shares outstanding-diluted

    40,025       39,253  

Earnings per share-diluted

  $ 0.83     $ 0.37  

 

The dilutive effect of stock options and restricted stock units in the above table excludes all options for which the aggregate exercise proceeds exceeded the average market price for the period. The number of potentially dilutive option shares excluded from the calculation was 1.5 million and 1.2 million for the quarter ended September 30, 2020 and 2019, respectively.