Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.19.3
Earnings per Share
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Earnings per Share
Earnings per Share
Basic net income per common share is calculated by dividing the income available to common stockholders by the weighted average common shares outstanding during each reporting period.  Diluted net income per common share adjusts the weighted average number of common shares outstanding for the potential dilution that could occur if common stock equivalents (stock options, restricted stock units and convertible debt) were exercised or converted into common stock, calculated using the treasury stock method. We had no participating securities during the three and nine months ended September 30, 2019 and 2018.
Common stock equivalents of 47 and 22 for the three months ended September 30, 2019 and 2018, respectively, and 76 and 14 for the nine months ended September 30, 2019 and 2018, respectively, were excluded from the calculation of diluted net income per common share as the effect would have been anti-dilutive. We issued 392 shares of our common stock in connection with the Pandora Acquisition.
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Numerator:
 

 
 

 
 
 
 
Net Income available to common stockholders for basic net income per common share
$
246

 
$
343

 
$
671

 
$
925

Effect of interest on assumed conversions of convertible debt, net of tax
2

 
—

 
5

 
—

Net Income available to common stockholders for dilutive net income per common share
$
248

 
$
343

 
$
676

 
$
925

Denominator:
 

 
 

 
 

 
 
Weighted average common shares outstanding for basic net income per common share
4,450

 
4,474

 
4,529

 
4,482

Weighted average impact of assumed convertible notes
29

 
—

 
28

 
—

Weighted average impact of dilutive equity instruments
85

 
100

 
84

 
104

Weighted average shares for diluted net income per common share
4,564

 
4,574

 
4,641

 
4,586

Net income per common share:
 

 
 

 
 

 
 
Basic
$
0.06

 
$
0.08

 
$
0.15

 
$
0.21

Diluted
$
0.05

 
$
0.07

 
$
0.15

 
$
0.20