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6. Earnings Per Share
3 Months Ended
Mar. 31, 2017
Earnings per share:  
Earnings Per Share

Earnings per share for the three-month periods ended March 31, 2017 and 2016 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month periods ended March 31, 2017 and 2016:

 

    Three Months Ended  
    March 31,  
    2017     2016  
    (In thousands)  
Weighted average number of common shares outstanding during the period used to compute basic earnings per share   $ 23,517     $ 25,296  
Incremental common shares attributable to exercise of outstanding options and warrants     4,706       4,858  
Weighted average number of common shares used to compute diluted earnings per share   $ 28,223     $ 30,154  

 

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three months ended March 31, 2017 and 2016 would have included an additional 6.6 million and 6.8 million shares, respectively, attributable to the exercise of outstanding options and warrants.