EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2019

11. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common shareholders by the weighted average number of common shares outstanding during each period. The diluted earnings per share computation includes common share equivalents, when dilutive.

A reconciliation of the shares used in the basic and diluted income per common share computation for the three months ended March 31, 2019 and 2018 is as follows:


(shares in thousands)	2019	2018

Basic - weighted average shares outstanding	7,382	7,407
Dilutive restricted share units	3	-
Dilutive stock options	49	24
Diluted - weighted average shares outstanding	7,434	7,431
Anti-dilutive securities	75	83