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Common Stock and Earnings per Share
 9 Months Ended
Sep. 30, 2017
Common Stock and Earnings per Share  
Common Stock and Earnings per Share

Note 7 – Common Stock and Earnings per Share

In connection with the 2009 Equity Incentive Plan, during the nine months ended September 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 nine months ended September 30, 2017 and 2016 follow:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Nine months ended

 

 

 

September 30, 

 

September 30, 

    

 

    

2017

    

2016

    

2017

    

2016

 

Net income

 

$

2,755

 

$

478

 

$

3,438

 

$

5,502

 

Weighted average common shares outstanding:

 

 

  

 

 

  

 

 

  

 

 

  

 

Basic

 

 

39,811

 

 

39,736

 

 

39,792

 

 

39,709

 

Incremental shares with dilutive effect:

 

 

  

 

 

  

 

 

  

 

 

  

 

Restricted stock awards

 

 

10

 

 

98

 

 

10

 

 

77

 

Diluted

 

 

39,821

 

 

39,834

 

 

39,802

 

 

39,786

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income per share

 

$

0.07

 

$

0.01

 

$

0.09

 

$

0.14

 

Diluted income per share

 

$

0.07

 

$

0.01

 

$

0.09

 

$

0.14