UTAH MEDICAL PRODUCTS INC Earnings Per Share Disclosure
Note 16 - Earnings Per Share
Basic earnings per share is calculated by dividing net income attributable to the common stockholders of the company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by assuming the exercise of stock options at the closing price of stock at the end of 2024.
The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:
2024 |
| 2023 |
| 2022 | |
Numerator (in thousands) |
|
|
|
|
|
Net income | 13,874 |
| 16,635 |
| 16,473 |
|
|
|
|
|
|
Denominator |
|
|
|
|
|
Weighted average shares, basic | 3,503 |
| 3,629 |
| 3,637 |
Dilutive effect of stock options | - |
| 8 |
| 6 |
Diluted shares | 3,503 |
| 3,637 |
| 3,643 |
|
|
|
|
|
|
Earnings per share, basic | 3.96 |
| 4.58 |
| 4.53 |
Earnings per share, diluted | 3.96 |
| 4.57 |
| 4.52 |
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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.