Common Stock and Earnings per Share

6 Months Ended

Jun. 30, 2017

Note 7 – Common Stock and Earnings per Share

In connection with the 2009 Equity Incentive Plan, during the six months ended June 30, 2017, we issued 131 total shares of restricted common stock, 120 shares for awards granted in 2017 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 and six months ended June 30, 2017 and 2016 follow:


	Three months ended				Six months ended
	June 30,				June 30,
	2017		2016		2017		2016
Net income	$	110	$	2,825	$	683	$	5,024

Weighted average common shares outstanding:
Basic		39,797		39,710		39,783		39,695
Incremental shares with dilutive effect:
Restricted stock awards		45		59		60		67

Diluted		39,842		39,769		39,843		39,762

Basic income (loss) per share	$	0.00	$	0.07	$	0.02	$	0.13

Diluted income (loss) per share	$	0.00	$	0.07	$	0.02	$	0.13