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. The Company’s dilutive common share equivalents consist of stock options and restricted stock units.

The following table reconciles the basic to diluted weighted average common shares outstanding using the treasury stock method

(in thousands, except per share amounts)

	Three Months Ended March 31,
	2017		2016
Net income	$	1,442	$	4,560

Weighted average common shares outstanding-basic		83,617		84,033
Plus: net effect of dilutive stock options and restricted stock units		1,963		446
Weighted average common shares outstanding-diluted		85,580		84,479
Net income per common share-basic	$	0.02	$	0.05
Net income per common share-diluted	$	0.02	$	0.05

For the

three

months ended

March 31, 2017

and

2016,

2,106,397

and

4,321,528

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, 2017

and

2016,

restricted stock units representing

42,056

and

99,461

shares of common stock, respectively, were

not

included in the diluted earnings per share calculation because the effect would have been anti-dilutive.