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

3 Months Ended

Dec. 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 months ended December 31, 2022 and 2021:

	Three Months Ended December 31,
	2022		2021
Net income	$	14,255,000	$	10,389,000
Weighted average common shares		14,165,550		13,743,503
Dilutive potential common shares		119,297		154,284
Weighted average dilutive common shares outstanding		14,284,847		13,897,787
Net income per common share:
Basic	$	1.01	$	0.76
Diluted	$	1.00	$	0.75