Net Income Per Common Share

6 Months Ended

Jun. 30, 2015

Net Income Per Common Share

Net Income Per Common Share

10. Net Income per Common Share

Basic net income per share is computed by dividing net income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income per share is based upon the weighted daily average number of shares of common stock outstanding for the period plus dilutive potential common shares, including stock options and restricted stock units using the treasury-stock method.

A reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding is as follows (unaudited):

	Three Months Ended				Six Months Ended
	June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Weighted average common basic shares outstanding	22,145,190		21,991,965		22,136,458		21,984,912
Effect of dilutive stock options and restricted stock units	376,642		406,921		368,945		390,465
Weighted average common diluted shares outstanding	22,521,832		22,398,886		22,505,403		22,375,377
Net income (loss) per share
Basic	$	0.44	$	0.24	$	0.50	$	0.44
Diluted	$	0.43	$	0.24	$	0.49	$	0.43

For the three and six months ended June 30, 2015, performance share units were excluded in the computation of weighted average diluted common share outstanding because the number of shares ultimately issuable is contingent upon the Company’s attainment of certain performance targets. There was no Performance-Based Incentive Program in place during the six months ended June 30, 2014.

There are no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.