Net Income per Common Share

9 Months Ended

Sep. 30, 2022

8. Net Income per Common Share

Net income per common share, as shown on the accompanying Condensed Consolidated Statements of Operations (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:


	For the Quarter Ended September 30,				For the Nine Months Ended September 30,
	2022		2021		2022		2021
Weighted average common shares outstanding basic		36,472,378		36,195,560		36,383,398		36,103,894
Dilutive effect of stock options and restricted stock		244,775		206,716		295,557		224,871
Weighted average common shares outstanding diluted		36,717,153		36,402,276		36,678,955		36,328,765

Options to purchase 114,540 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2022 and 42,945 for the quarter ended September 30, 2021 were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and were therefore anti-dilutive. There were no options to purchase shares of common stock excluded from the computation of diluted earnings for the nine months ended September 30, 2021