Common Stock and Earnings per Share

3 Months Ended

Mar. 31, 2017

Note 7 – Common Stock and Earnings per Share

In connection with the 2009 Equity Incentive Plan, during the three months ended March 31, 2017, we issued 122 total shares of restricted common stock, 111 shares for awards granted in the first quarter of 2016 and 11 performance shares related to awards provisioned in prior years.

Basic earnings per share is based on the weighted average number of shares outstanding and excludes the dilutive effect of common stock equivalents. Diluted earnings per share is based on the weighted average number of shares outstanding and includes the dilutive effect of common stock equivalents to the extent they are not anti-dilutive. The details of the earnings per share calculations for the three months ended March 31, 2017 and 2016 follow:


	Three months ended March 31,
	2017		2016
Net income	$	573	$	2,199

Weighted average common shares outstanding:
Basic		39,760		39,681
Incremental shares with dilutive effect:
Restricted stock awards		10		74

Diluted		39,770		39,755

Basic income per share	$	0.01	$	0.06

Diluted income per share	$	0.01	$	0.06