Net Income Per Common Share

12 Months Ended

Dec. 31, 2023

5. Net Income Per Common Share

Net income per common share, as shown on the accompanying Consolidated Statements of Operations, is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:


	For the Year Ended December 31,
	2023		2022		2021
Weighted average common shares outstanding basic		36,744,560		36,411,389		36,138,571
Dilutive effect of stock options and restricted stock		351,008		379,450		220,398
Weighted average common shares outstanding diluted		37,095,568		36,790,839		36,358,969

The dilutive effect of stock options and restricted stock was computed using the treasury stock method. Options to purchase 101,406, 114,540 and 26,814 shares of common stock that were outstanding at December 31, 2023, 2022 and 2021, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options was greater than the average market price of common shares and were therefore anti-dilutive.