6. Earnings Per Share

6 Months Ended

Jun. 30, 2019

Earnings per share:

Earnings Per Share

(6) Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2019 and 2018 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 and six-month periods ended June 30, 2019 and 2018:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		22,362		21,178		22,302		21,375
Incremental common shares attributable to exercise of outstanding options and warrants		1,616		3,945		1,817		4,018
Weighted average number of common shares used to compute diluted earnings per share		23,978		25,123		24,119		25,393

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and six-month periods ended June 30, 2019 would have included an additional 10.7 million and 10.5 million shares, respectively, attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2018, an additional 10.2 million and 9.7 million shares, respectively, would be included in the diluted earnings per share calculation.