Clearfield, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Net Income Per Share

Note 2 - Net Income Per Share

6 Months Ended

Mar. 31, 2022

Note 2. Net Income Per Share

Basic net income per common share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted EPS equals net income divided by the sum of the weighted average number of shares of common stock outstanding plus all additional common stock equivalents, such as stock options, when dilutive.

The following is a reconciliation of the numerator and denominator of the net income per common share computations for the three and six months ended March 31, 2022 and 2021:

	Three Months Ended March 31,				Six Months Ended March 31,
(In thousands, except for share data)	2022		2021		2022		2021
Net income	$	9,236	$	3,640	$	19,626	$	6,803
Weighted average common shares		13,767,341		13,730,150		13,755,291		13,711,135
Dilutive potential common shares		135,495		49,629		144,889		26,956
Weighted average dilutive common shares outstanding		13,902,836		13,779,779		13,900,180		13,738,090
Net income per common share:
Basic	$	0.67	$	0.27	$	1.43	$	0.50
Diluted	$	0.66	$	0.27	$	1.41	$	0.50