6. Earnings Per Share

9 Months Ended

Sep. 30, 2017

Earnings per share:

Earnings Per Share

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

	Three Months Ended September 30,					Nine Months Ended September 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			22,473		23,894			23,019		24,574
Incremental common shares attributable to exercise of outstanding options and warrants			4,306		4,609			4,587		4,679
Weighted average number of common shares used to compute diluted earnings per share			26,779		28,503			27,606		29,253

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 nine-month periods ended September 30, 2017 would have included an additional 9.7 million and 7.3 million shares, respectively attributable to the exercise of outstanding options and warrants. For the three-month and nine-month periods ended September 30, 2016, an additional 8.6 million and 7.7 million shares, respectively, would be included in the diluted earnings per share calculation.