Earnings per Share

9 Months Ended

Sep. 30, 2016

14. Earnings per Share

The following table sets forth basic and diluted weighted average shares outstanding for the periods indicated (in thousands):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015

Weighted average shares - basic		18,617		19,203		18,835		19,233
Effect of dilutive securities		186		179		174		182
Weighted average shares - assuming dilution		18,803		19,382		19,009		19,415

For the three and nine months ended September 30, 2016, 385,000 shares of common stock potentially issuable upon the exercise of employee stock options were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. For the three and nine months ended September 30, 2015, 504,999 shares of common stock potentially issuable upon the exercise of employee stock options were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive.