Note 3 – Earnings Per Share

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


	For the Three Months Ended
	March 31,
(In thousands, except per share data)	2019		2018
Net income from continuing operations	$	3,828	$	3,462
Net (loss) income from discontinued operations		(74)		596
Net Income	$	3,754	$	4,058
Weighted average shares outstanding - Basic		12,769		12,715
Dilutive effect of common stock equivalents-options		4		16
Weighted average shares outstanding - Diluted		12,773		12,731

Basic earnings per common share
Income from continuing operations	$	0.30	$	0.27
(Loss) income from discontinued operations		(0.01)		0.05
Net income	$	0.29	$	0.32

Diluted earnings per common share
Income from continuing operations	$	0.30	$	0.27
(Loss) income from discontinued operations		(0.01)		0.05
Net income	$	0.29	$	0.32

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three months ended March 31, 2019 and 2018.