Company: PAMT
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001437749-25-025711
Chunk: 18

Company: PAMT CORP
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 18
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 price of not greater than $17.00 nor less than $14.00 per share. On  April 11, 2025, the Company amended the terms of the tender offer to increase the minimum purchase price for shares purchased in the tender offer to $14.50 per share. Following the expiration of the tender offer on  May 1, 2025, the Company accepted 870,000 shares of its common stock for purchase at $17.00 per share, at an aggregate purchase price of approximately $14.8 million, excluding fees and expenses related to the offer. The number of shares purchased by the Company reflects the Company’s right to purchase additional shares in the tender offer up to an additional 2% of its outstanding shares. The Company funded the purchase of the accepted shares tendered with available cash and accounted for the repurchase of these shares as treasury stock on the Company’s condensed consolidated balance sheet as of  June 30, 2025.
    
   The Company accounts for treasury stock using the cost method. As of  June 30, 2025, 1,451,586 shares were held in the treasury at an aggregate cost of approximately $28,924,000.

   NOTE H: EARNINGS PER SHARE
   Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive restricted stock. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows:

       Three Months Ended    Six Months Ended  
   June 30,    June 30,  
   2025    2024    2025    2024  
   (in thousands, except per share data)  
                 
 Net Loss  $(9,627) $(2,910) $(17,770) $(2,629)
                 
 Basic weighted average common shares outstanding   21,095   21,932   21,498   21,981 
 Dilutive effect of common stock equivalents   -   -   -   - 
 Diluted weighted average common shares outstanding   21,095