6. Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings per share:

Earnings Per Share

(6) Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2018 and 2017 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, 2018 and 2017:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2018		2017		2018		2017
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		21,178		23,076		21,375		23,296
Incremental common shares attributable to exercise of outstanding options and warrants		3,945		4,526		4,018		4,728
Weighted average number of common shares used to compute diluted earnings per share		25,123		27,602		25,393		28,024

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, 2018 would have included an additional 10.2 million and 9.7 million shares, respectively, attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2017, an additional 8.7 million and 7.0 million shares, respectively, would be included in the diluted earnings per share calculation.