Earnings per Share
Basic earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed by dividing net earnings by the weighted average number of common shares outstanding, including the dilutive effects of stock options, SARs and nonvested shares. The following table presents a reconciliation of the share amounts used in the computation of basic and diluted earnings per share:
(In thousands)202520242023
Basic earnings per share - weighted average common shares outstanding21,726 21,871 22,007 
Weighted average effect of nonvested share grants and assumed exercise of stock options165 220 409 
Diluted earnings per share - weighted average common shares and potential common shares outstanding21,891 22,091 22,416 
Stock awards excluded from the calculation of earnings per share because the award price was greater than the average market price of the common shares23 31 97 
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Historical Timeline

Fiscal YearFiled
2025Apr 24, 2025Showing above
2018Apr 30, 2018

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.