Net Income per Common Share

9 Months Ended

Sep. 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				Nine Months Ended
	September 30, 2015		September 30, 2014		September 30, 2015		September 30, 2014
Weighted average common basic shares outstanding	22,205,707		21,997,394		22,159,701		21,989,131
Effect of dilutive stock options and restricted stock units	342,459		429,393		360,117		403,441
Weighted average common diluted shares outstanding	22,548,166		22,426,787		22,519,818		22,392,572
Net income (loss) per share
Basic	$	0.17	$	0.20	$	0.67	$	0.63
Diluted	$	0.16	$	0.19	$	0.66	$	0.62

For the three and nine months ended September 30, 2015, performance share units were excluded from 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 nine months ended September 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.