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MiX Telematics Just Filed Its Quarterly Report: Earnings per shareBa...

Earnings per share

Basic
Basic earnings per share is calculated by dividing the income attributable to ordinary shareholders of the parent by the weighted average number of ordinary shares in issue during the period.

The net income and weighted average number of shares used in the calculation of basic and diluted earnings per share are as follows (in thousands, except per share data):
Three Months Ended December 31,Nine Months Ended December 31,
2020202120202021
Numerator (basic)
Net income attributable to ordinary shareholders$5,933 $630 $11,807 $5,460 
Denominator (basic)
Weighted-average number of ordinary shares in issue551,106 552,452 548,752 552,234 
Basic earnings per share $0.01 $0.001 $0.02 $0.01 
American Depository Shares*:
Net income attributable to ordinary shareholders$5,933 $630 $11,807 $5,460 
Weighted-average number of American Depository Shares in issue22,044 22,098 21,950 22,089 
Basic earnings per American Depository share$0.27 $0.03 $0.54 $0.25 
*One American Depository Share is the equivalent of 25 ordinary shares.

Diluted
Diluted earnings per share is calculated by dividing the diluted income attributable to ordinary shareholders by the diluted weighted average number of ordinary shares in issue during the period. Stock options, retention shares and stock appreciation rights granted to directors and employees are considered to be potential ordinary shares. They have been included in the determination of diluted earnings per share if the required target share price or annual shareholder return hurdles (as applicable) would have been met based on the performance up to the reporting date, and to the extent to which they are dilutive.
Three Months Ended December 31,Nine Months Ended December 31,
2020202120202021
Numerator (diluted)
Diluted net income attributable to ordinary shareholders$5,933 $630 $11,807 $5,460 
Denominator (diluted)
Weighted-average number of ordinary shares in issue551,106 552,452 548,752 552,234 
Adjusted for:
– potentially dilutive effect of stock appreciation rights8,080 10,571 9,038 11,397 
– potentially dilutive effect of restricted share units659 1,557 632 1,445 
– potentially dilutive effect of stock options— — 750 — 
Diluted-weighted average number of ordinary shares in issue559,845 564,580 559,172 565,076 
Diluted earnings per share$0.01 $0.001 $0.02 $0.01 
American Depository Shares*:
Diluted net income attributable to ordinary shareholders$5,933 $630 $11,807 $5,460 
Diluted weighted-average number of American Depository Shares in issue22,394 22,583 22,367 22,603 
Diluted earnings per American Depository share$0.26 $0.03 $0.53 $0.24 
*One American Depository Share is the equivalent of 25 ordinary shares.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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