Net Income per Common Share

6 Months Ended

Jun. 30, 2024

8. Net Income per Common Share

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


	For the Quarter Ended June 30,				For the Six Months Ended June 30,
	2024		2023		2024		2023
Weighted average common shares outstanding basic		37,179,658		36,761,916		37,043,913		36,663,345
Dilutive effect of stock options and restricted stock		132,736		130,261		213,389		210,739
Weighted average common shares outstanding diluted		37,312,394		36,892,177		37,257,302		36,874,084

The dilutive effect of stock options and restricted stock was computed using the treasury stock method. Options to purchase 10,290 and 4,733 shares of common stock that were outstanding for the quarter and six months ended June 30, 2024, respectively were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive. Options to purchase 114,540 and 18,820 shares of common stock that were outstanding for the quarter and six months ended June 30, 2023, respectively were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive.