Net Income Per Common Share

9 Months Ended

Sep. 30, 2019

Basic net income per common share is based on the weighted average number of shares of common stock outstanding during the period. Diluted net income per common share increases the shares used in the per share calculation by the dilutive effects of restricted stock awards. The table below reflects the calculation of the weighted average number of common shares outstanding, on an as if converted basis, used in computing basic and diluted net income per common share.



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2019	2018	2019	2018
	(Unaudited)
Basic weighted average shares outstanding	15,967	16,424	16,335	16,397
Effect of dilutive restricted stock	154	234	152	231
Diluted weighted average shares outstanding	16,121	16,658	16,487	16,628

Share awards are not included in the computation of diluted net income per share when their effect is anti-dilutive. There were 12,774 and 37,738 anti-dilutive restricted stock awards excluded from the calculation for the three and nine month periods ended September 30, 2019, respectively, compared to 36,861 anti-dilutive restricted stock awards excluded from the calculation for both the three and nine month periods ended September 30, 2018.