5. Earnings per share

The following table sets forth the reconciliation of basic weighted average shares outstanding and diluted weighted average shares outstanding:

	Three Months Ended March 31,
	2019		2018
	(In thousands, except per share data)

Net income	$	746	$	680

Shares:
Basic: Weighted average common shares outstanding		7,461		7,533
Add: Dilutive effect of outstanding options and restricted stock units as determined by the treasury stock method		158		368
Diluted: Weighted average common and common equivalent shares outstanding		7,619		7,901

Net income per common share:
Basic	$	0.10	$	0.09
Diluted	$	0.10	$	0.09

The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options and restricted stock units, when the average market price of the common stock is lower than the exercise price of the related stock award during the period. These outstanding stock awards are not included in the computation of diluted earnings per share because the effect would be anti-dilutive. For the three months ended March 31, 2019 and 2018, there were 540 thousand and 147 thousand, respectively, of potentially dilutive shares consisting of stock awards that were excluded from the calculation of earnings per diluted share.