Earnings per Share

9 Months Ended

Sep. 30, 2018

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,
	2018		2017		2018		2017

Weighted average shares - basic		18,059		18,180		18,097		18,404
Effect of dilutive securities		108		-		106		-
Weighted average shares - assuming dilution		18,167		18,180		18,203		18,404

For the three and nine months ended September 30, 2018, no shares and 43,004 shares, respectively, of common stock potentially issuable upon the exercise of employee 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, 417,830 shares of common stock potentially issuable upon the exercise of employee 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.