7. Earnings Per Share

6 Months Ended

Jun. 30, 2015

Earnings per share:

Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2015 and 2014 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2015 and 2014:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2015		2014		2015		2014
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		26,234		25,029		25,936		24,694
Incremental common shares attributable to exercise of outstanding options and warrants		5,683		6,973		6,019		7,315
Weighted average number of common shares used to compute diluted earnings per share		31,917		32,002		31,955		32,009

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and six-month periods ended June 30, 2015 would have included an additional 5.7 million and 5.3 million shares, respectively attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2014, an additional 2.6 million shares would be included in the diluted earnings per share calculation.