Earnings per Share

9 Months Ended

Sep. 30, 2017

13. Earnings per Share

The following table sets forth basic and diluted weighted average shares outstanding for the periods indicated (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016

Weighted average shares - basic		18,180		18,617		18,404		18,835
Effect of dilutive securities		-		186		-		174
Weighted average shares - assuming dilution		18,180		18,803		18,404		19,009

For each of the three and nine months ended September 30, 2017, 417,830 shares of common stock potentially issuable upon the exercise of stock options were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. For each of the three and nine months ended September 30, 2017, 385,779 restricted stock units were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such restricted stock units would be anti-dilutive. For each of the three and nine months ended September 30, 2016, 385,000 shares of common stock potentially issuable upon the exercise of stock options were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive.