11. EARNINGS PER SHARE

 

The denominators used in the earnings per share computations follow:

 

 

 

2025

 

 

2024

 

Basic:

 

 

 

 

 

 

Weighted average shares outstanding

 

 

6,092,374

 

 

 

6,207,754

 

 

 

 

 

 

 

 

 

 

Diluted:

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

6,092,374

 

 

 

6,207,754

 

Dilutive stock awards

 

 

7,953

 

 

 

7,891

 

Denominator for diluted earnings per share

 

 

6,100,327

 

 

 

6,215,645

 

 

There were no anti-dilutive stock equivalents in 2025 or 2024.

Historical Timeline

Fiscal YearFiled
2026Mar 3, 2026Showing above
2024Mar 11, 2025
2023Mar 12, 2024
2022Mar 14, 2023
2021Mar 16, 2021
2019Mar 5, 2020
2018Mar 14, 2019

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.