Net Income per Common Share

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Net Income per Common Share

10.  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,
	2019		2018		2019		2018
Weighted average common shares outstanding basic		35,495,157		35,229,171		35,451,980		32,783,853
Dilutive effect of stock options and restricted stock		263,875		—		371,251		—
Weighted average common shares outstanding diluted		35,759,032		35,229,171		35,823,231		32,783,853

Options to purchase 638,073 and 631,300 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2019, respectively, 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. Due to the net loss for the quarter and nine months ended September 30, 2018, diluted weighted-average shares outstanding were equal to basic weighted-average shares outstanding because the effect of all equity awards was anti-dilutive.