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

Mar. 31, 2023

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, 2023 and 2022:

	Three Months Ended March 31,				Six Months Ended March 31,
(In thousands, except for share data)	2023		2022		2023		2022
Net income	$	10,364	$	9,236	$	24,619	$	19,626
Weighted average common shares		15,233,848		13,767,341		14,693,829		13,755,291
Dilutive potential common shares		26,921		135,495		73,109		144,889
Weighted average dilutive common shares outstanding		15,260,769		13,902,836		14,766,938		13,900,180
Net income per common share:
Basic	$	0.67	$	0.67	$	1.68	$	1.43
Diluted	$	0.67	$	0.66	$	1.67	$	1.41