Net Income per Common Share

9 Months Ended

Sep. 30, 2020

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,
	2020		2019		2020		2019
Weighted average common shares outstanding basic		35,796,247		35,495,157		35,764,822		35,451,980
Dilutive effect of stock options and restricted stock		146,882		263,875		173,364		371,251
Weighted average common shares outstanding diluted		35,943,129		35,759,032		35,938,186		35,823,231

Options to purchase 607,123 and 435,998 shares of common stock that were outstanding for the quarter and nine months ended September 30, 2020, respectively, and 638,073 and 631,300 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.