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				For the Six Months Ended
	June 30,				June 30,
(In thousands, except per share data)	2019		2018		2019		2018
Net income from continuing operations	$	4,228	$	4,192	$	8,056	$	7,654
Net (loss) income from discontinued operations		(4)		199		(78)		795
Net Income	$	4,224	$	4,391	$	7,978	$	8,449
Weighted average shares outstanding - Basic		12,779		12,744		12,774		12,730
Dilutive effect of common stock equivalents-options		5		13		5		13
Weighted average shares outstanding - Diluted		12,784		12,757		12,779		12,743

Basic earnings per common share
Income from continuing operations	$	0.33	$	0.33	$	0.63	$	0.60
(Loss) income from discontinued operations		—		0.01		(0.01)		0.06
Net income	$	0.33	$	0.34	$	0.62	$	0.66

Diluted earnings per common share
Income from continuing operations	$	0.33	$	0.33	$	0.63	$	0.60
(Loss) income from discontinued operations		—		0.01		(0.01)		0.06
Net income	$	0.33	$	0.34	$	0.62	$	0.66

There were no weighted average common stock equivalents excluded from the calculation of diluted earnings per share for the three and six months ended June 30, 2019 and 2018.