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,
	2018	2017	2018	2017
	(in thousands)		(in thousands)
Basic weighted average common shares outstanding	12,119	12,087	12,100	12,082
Stock options	92	35	73	81
Unvested restricted stock	3	28	10	34
Total weighted average common share equivalents	95	63	83	115
Diluted weighted average common shares outstanding	12,214	12,150	12,183	12,197

For the three and nine month periods ended October 31, 2018 and 2017, 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 periods.