Earnings Per Common Share

3 Months Ended

Mar. 31, 2016

9.	Earnings Per Common Share

Earnings per common share for all periods have been calculated in conformity with ASC 260, “Earnings Per Share.” This data is based on historical net income and the weighted average number of shares of our common stock outstanding during each period as set forth in the following table:


	Three Months Ended
	March 31,
	2016		2015
Shares:
Weighted average number of shares of common stock outstanding		23,742		23,560
Shares assumed issued (less shares assumed purchased for treasury) for stock-based compensation		114		259

Outstanding shares for diluted earnings per share calculation		23,856		23,819

A total of approximately 1.9 million shares in the three months ended March 31, 2016 and 1.2 million shares in the three months ended March 31, 2015 were excluded from the calculation of our diluted earnings per common share, because the effect was anti-dilutive.