Basic and Diluted Net Income per Share

3 Months Ended

Mar. 31, 2016

The Company’s basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.

The numerators and denominators used in computing basic and diluted net income per common share for the three months ended March 31, 2016 and 2015 can be reconciled as follows (dollars in thousands, except per share data):



	Three months ended March 31,
	2016		2015
Net income	$	1,940	$	5,118

Weighted-average shares outstanding - basic	71,883,745		71,673,368
Dilutive securities	269,191		178,113
Weighted-average shares outstanding - diluted	72,152,936		71,851,481
Common stock equivalent shares excluded due to antidilutive effect	3,361,524		3,368,731

Basic and diluted:
Net income per common share	$	0.03	$	0.07
Net income per common share (diluted)	$	0.03	$	0.07