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

9 Months Ended

Jun. 30, 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 nine months ended June 30, 2023, and 2022:

	Three Months Ended June 30,				Nine Months Ended June 30,
(In thousands, except for share data)	2023		2022		2023		2022
Net income	$	5,218	$	12,745	$	29,837	$	32,370
Weighted average common shares		15,254,341		13,772,269		14,880,666		13,760,950
Dilutive potential common shares		-		127,429		48,739		139,069
Weighted average dilutive common shares outstanding		15,254,341		13,899,698		14,929,405		13,900,019
Net income per common share:
Basic	$	0.33	$	0.93	$	2.01	$	2.35
Diluted	$	0.33	$	0.92	$	2.00	$	2.33