Net Income per Common Share

6 Months Ended

Jun. 30, 2020

10. 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,
	2020		2019		2020		2019
Weighted average common shares outstanding basic		35,774,241		35,471,795		35,749,110		35,430,392
Dilutive effect of stock options and restricted stock		146,224		271,768		150,411		322,662
Weighted average common shares outstanding diluted		35,920,465		35,743,563		35,899,521		35,753,054

Options to purchase 455,958 and 466,658 shares of common stock that were outstanding for the for the quarter and six months ended June 30, 2020, respectively, and 643,813 and 648,313 for the quarter and six months ended June 30, 2019, 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.