Net Income per Common Share

9 Months Ended

Sep. 30, 2021

9. 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,
	2021		2020		2021		2020
Weighted average common shares outstanding basic		36,195,560		35,796,247		36,103,894		35,764,822
Dilutive effect of stock options and restricted stock		206,716		146,882		224,871		173,364
Weighted average common shares outstanding diluted		36,402,276		35,943,129		36,328,765		35,938,186

Options to purchase 42,945 shares of common stock that were outstanding for the quarter ended September 30, 2021 and 607,123 and 435,998 for the quarter and nine months ended September 30, 2020, 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. 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.