Earnings per Share

3 Months Ended

Mar. 31, 2015

Earnings per Share

Earnings per Share

6.Earnings Per Share

Basic income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted income per share is calculated by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding during the period. Our dilutive common share equivalents consist of stock options and restricted stock awards and units.

The following table reconciles the basic to diluted weighted average common shares outstanding using the treasury stock method (in thousands, except per share data):

Basic and diluted

	Three months ended March 31,
	2015		2014
Net income	$	3,522	$	3,353
Weighted average common shares outstanding — basic	88,246		87,436
Plus: net effect of dilutive stock options	181		336
Plus: net effect of dilutive restricted stock awards and units	197		163
Weighted average common shares outstanding —  diluted	88,624		87,935
Income per common share —  basic	$	0.04	$	0.04
Income per common share —  diluted	$	0.04	$	0.04

For the three months ended March 31, 2015 and 2014, 2,940,897 and 1,434,314 stock options, respectively, were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive. For the three months ended March 31, 2015 and 2014, 71,192 and 25,541 restricted stock units, respectively, were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.