Net Income Per Common Share

9 Months Ended

Sep. 30, 2015

Note 6 — Net Income Per Common Share

Basic net income per common share is computed by dividing net income by the basic weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the diluted weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury-stock method. Common equivalent shares consist of common stock issuable on the exercise of outstanding options and vesting of restricted stock units when dilutive.

Basic and diluted weighted average common shares are as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2015		2014		2015		2014

Basic weighted average common shares outstanding		17,892		18,287		17,986		18,886
Weighted average common equivalent shares		173		262		245		283
Diluted weighted average common shares outstanding		18,065		18,549		18,231		19,169
Options excluded from diluted weighted average share calculation as effect would have been anti-dilutive		1,503		610		1,069		591