NOTE 11—EARNINGS PER SHARE

The following weighted average shares and share equivalents are used to calculate basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017:


	For the three months ended		For the six months ended
	June 30,		June 30,
(in thousands)	2018	2017	2018	2017
Weighted average number of shares outstanding used to calculate basic earnings per share	30,248	30,131	30,116	29,971

Dilutive securities
Unvested restricted shares and restricted share units	1,131	1,171	1,107	1,362
Stock options	775	795	786	734
Weighted average number of shares and share equivalents outstanding used to calculate diluted earnings per share	32,154	32,097	32,009	32,067

The assumed proceeds used for calculating the dilutive impact of restricted stock awards under the treasury method includes the unrecognized compensation costs associated with the awards. The following table presents any average outstanding options to purchase shares of common stock and average restricted shares that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive (the exercise price of the options or the grant date market price of the restricted shares was greater than the average market price of the Company’s shares during the periods presented).


	For the three months ended		For the six months ended
	June 30,		June 30,
(in thousands)	2018	2017	2018	2017
Average options	—	113	—	84
Average restricted shares	—	—	5	3