Earnings Per Share

3 Months Ended

Mar. 31, 2019

EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive restricted stock and incentive stock options. The computation of diluted earnings per share does not assume conversion, exercise or contingent issuance of securities that would have an anti-dilutive effect on loss per share.

The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share amounts):



	Three Months Ended March 31,
Numerator:	2019		2018
Net income	$	1,501	$	1,035
Denominator:
Denominator for basic earnings per share – weighted average shares	8,375		8,035
Effect of dilutive securities:
Employee restricted stock and incentive stock options	24		5
Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversion	8,399		8,040
Basic earnings per share	$	0.18	$	0.13
Diluted earnings per share	$	0.18	$	0.13
Weighted average anti-dilutive employee restricted stock and incentive stock options	260		—