Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

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EARNINGS (LOSS) PER SHARE
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER SHARE

NOTE E – EARNINGS (LOSS) PER SHARE

Basic income (loss) per share is calculated by dividing the net income (loss) by the weighted average number of outstanding common shares during the period. Diluted per share data includes the dilutive effects of options and restricted stock units. Potentially dilutive shares of 1,148,750 and 548,750 at September 30, 2022 and 2021, respectively, consisted of options and restricted stock units.

Computations of basic and diluted weighted average common shares outstanding were as follows:

                               
   

Nine Months Ended
September 30,

   

Three Months Ended
September 30,

 
   

2022

   

2021

   

2022

   

2021

 
Weighted-average common shares outstanding – basic     23,830,702       24,136,506       23,765,089       23,934,361  
Dilutive effect of options and restricted stock units           470,736       300,635       385,870  
Weighted-average common shares outstanding – diluted     23,830,702       24,607,242       24,065,724       24,320,231  
Options and restricted stock units excluded from the computation of diluted loss per share because the effect of inclusion would have been anti-dilutive     1,148,750