NOTE 17. EARNINGS PER COMMON SHARE

Basic earnings per common share is calculated by dividing net income available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per common share is calculated by dividing net income available to (allocable to) common stockholders by the weighted average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents (stock-based awards). The following table provides information relating to the calculation of earnings per common share.


(In thousands, except per share data)	2018		2017
Net income from continuing operations	$	15,763	$	9,225
Net income from discontinued operations		9,234		2,037
Net income		24,997		11,262

Weighted average shares outstanding - basic		12,739		12,682

Dilutive effect of common stock equivalents-options		12		22

Dilutive effect of common stock equivalents-restricted stock units		2		14

Weighted average shares outstanding - diluted		12,753		12,718

Basic earnings per common share
Income form continuing operations	$	1.24	$	0.73
Income form discontinued operations		0.72		0.16
Net income	$	1.96	$	0.89

Diluted earnings per common share
Income form continuing operations	$	1.24	$	0.73
Income form discontinued operations		0.72		0.16
Net income	$	1.96	$	0.89

For all periods presented, the calculations of diluted income per common share excluded no weighted average common stock equivalents because the effect of including them would have anti-dilutive.