Earnings per Share

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:



	Three Months Ended October 31,		Nine Months Ended October 31,
	2017	2016	2017	2016
	(in thousands)		(in thousands)
Basic weighted average common shares outstanding	12,087	12,075	12,082	12,068
Stock options	35	8	81	6
Unvested restricted stock	28	37	34	46
Total weighted average common share equivalents	63	45	115	52
Diluted weighted average common shares outstanding	12,150	12,120	12,197	12,120

For the three months ended October 31, 2017 and 2016 and the nine months ended October 31, 2017 and 2016, potentially dilutive common shares, underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for those period.