Net Income Per Share

6 Months Ended

Jun. 30, 2016

NET INCOME PER SHARE

Basic net income per share has been computed by dividing net income by the basic number of weighted average shares outstanding. Diluted net income per share has been computed by dividing net income by the diluted number of weighted average shares outstanding using the treasury stock method. The share effect is as follows:



	For the Three Months Ended June 30,		For the Six Months Ended June 30,
	2016	2015	2016	2015
Weighted average shares outstanding:
Common shares	20,159,197	20,414,667	20,094,542	20,412,511
Vested restricted stock units	220,360	532,160	312,837	522,279
Basic number of weighted average shares outstanding	20,379,557	20,946,827	20,407,379	20,934,790
Dilutive effect of restricted stock and restricted stock units	3,247	5,005	26,145	14,258
Dilutive number of weighted average shares outstanding	20,382,804	20,951,832	20,433,524	20,949,048

For the six months ended June 30, 2016, 7,426 restricted shares were not included in the computation of diluted net income per share because their inclusion would have been anti-dilutive. For the three months ended June 30, 2016, and the three and six months ended June 30, 2015, there were no restricted stock or restricted stock units that would have been anti-dilutive.