Net Income per Share

3 Months Ended

Mar. 31, 2017

Basic net income per common share is calculated as net income divided by the weighted average common shares outstanding during the reporting period.

Diluted net income per common share is computed similarly to that of basic net income per common share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all potentially dilutive common shares, principally stock options, were issued during the reporting period utilizing the Treasury stock method.

The following is a reconciliation of the calculation of basic and diluted income per share:



	For the three months ended March 31,
(In thousands, except per share amounts)	2017		2016
Net income	$	3,192	$	4,205
Weighted average common shares outstanding - Basic	10,509		9,304
Plus: Potential dilutive common stock equivalents	196		246
Weighted average common shares outstanding - Diluted	10,705		9,550
Net income per common share - Basic	$	0.30	$	0.45
Net income per common share - Diluted	0.30		0.44
Stock options and common stock excluded from the income per share calculation as their effect would have been anti-dilutive	56		203

Prior year weighted average share and per share figures shown above have been adjusted for the 10% stock dividend paid September 30, 2016.