Stockholders’ Equity

Common Stock — Our authorized capital stock consists of 60,000,000 shares of common stock with a par value of $0.01 per share; of which, 29,876,953 shares were issued and outstanding as of September 30, 2017 and 29,871,354 were issued and outstanding as of December 31, 2016.

Preferred Stock — Our authorized capital stock also consists of 5,000,000 shares of preferred stock with a par value of $0.01 per share; no preferred shares were outstanding as of September 30, 2017 and December 31, 2016.

Earnings Per Share — Basic earnings per share is determined by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share, and all other diluted per share amounts presented, is determined by dividing net income by the weighted average number of common shares and potential common shares outstanding during the period as determined by the Treasury Stock Method. Potential common shares are included in the diluted earnings per share calculation when dilutive. Diluted earnings per share for the three and nine months ended September 30, 2017 and 2016 includes the effects of potential common shares issuable upon the vesting of restricted stock, when dilutive.



		Three Months Ended September 30,			Nine Months Ended September 30,
		2017	2016		2017		2016
Net income	$	4,763	$	1,147	$	5,523	$	6,431
Weighted average number of common shares outstanding		29,875	29,449		29,874		29,449
Dilutive effect of restricted stock grants after application of the treasury stock method		612	652		505		334
Dilutive shares outstanding		30,487	30,101		30,379		29,783
Basic and diluted earnings per share	$	0.16	$	0.04	$	0.18	$	0.22

There are no antidilutive outstanding restrictive stock awards impacting the diluted earnings per share for the three and nine months ended September 30, 2017. No outstanding restricted stock awards were antidilutive for the three months ended September 30, 2016. Diluted earnings per share did not include 422 thousand antidilutive outstanding restricted stock awards for the nine months ended September 30, 2016.

Dividends — We have not declared or paid any cash dividends in the past. The terms of the Third ARLS Agreement (as described in Note 11) restrict the payment or distribution of our cash or other assets, including cash dividend payments.