6. Earnings Per Share

6 Months Ended

Jun. 30, 2017

Earnings per share:

Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2017 and 2016 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, 2017 and 2016:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		23,076		24,538		23,296	24,917
Incremental common shares attributable to exercise of outstanding options and warrants		4,526		4,573		4,728	4,715
Weighted average number of common shares used to compute diluted earnings per share		27,602		29,111		28,024	29,632

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, 2017 would have included an additional 8.7 million and 7.0 million shares, respectively attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2016, an additional 7.9 million and 7.4 million shares, respectively, would be included in the diluted earnings per share calculation.