Net Income (loss) per Common Share

9 Months Ended

Sep. 30, 2024

8. Net Income (loss) per Common Share

Net income (loss) 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 September 30,				For the Nine Months Ended September 30,
	2024		2023		2024		2023
Weighted average common shares outstanding basic		37,220,456		36,811,296		37,102,761		36,712,662
Dilutive effect of stock options and restricted stock		—		168,584		147,751		259,722
Weighted average common shares outstanding diluted		37,220,456		36,979,880		37,250,512		36,972,384

The dilutive effect of stock options and restricted stock was computed using the treasury stock method. Because the Company incurred a net loss for the quarter ended September 30, 2024, basic and diluted shares are the same. If the Company was in a net income position during the quarter ended September 30, 2024, diluted shares would include an additional 2,280 shares of common stock.

Options to purchase 13,664 and 10,290 shares of common stock that were outstanding for the quarter and nine months ended September 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 104,409 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2023 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.