Quarterly report pursuant to Section 13 or 15(d)

NET INCOME PER COMMON SHARE

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NET INCOME PER COMMON SHARE
9 Months Ended
Sep. 30, 2021
NET INCOME PER COMMON SHARE  
NET INCOME PER COMMON SHARE

NOTE 18. NET INCOME PER COMMON SHARE

The following shares of potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding, as the effect of including such securities would be anti-dilutive for the three and nine months ended September 30, 2021:

    

Three Months Ended

    

Nine Months Ended

September 30, 2021

Unvested restricted stock units

 

718,415

 

750,857

Outstanding Options

 

1,730,717

 

1,734,157

Total potential dilutive effect

2,449,132

 

2,485,014

The Company’s common stock equivalents, including unvested restricted stock and options have been excluded from the computation of diluted loss per share for the three and nine months ended September 30, 2021, as the effect would be to reduce the loss per share. Therefore, the weighted average common stock outstanding used to calculate both basic and diluted income loss per share is the same for the three and nine months ended September 30, 2021. The following is a reconciliation of the numerator and denominator of the diluted net income per share computations for the three and nine-month periods ended September 30, 2020 (in thousands except for share and per share amounts):

    

Three Months Ended

    

Nine Months Ended

September 30, 2020

Net income

$

29

$

2,781

Weighted average shares outstanding - basic

 

9,133,333

 

9,133,333

Stock options

 

1,667,142

 

1,684,345

Weighted average shares outstanding - diluted

 

10,800,475

 

10,817,678

Per share data:

 

  

 

  

Basic

$

$

0.30

Diluted

$

$

0.26