Information regarding the calculation of basic and diluted net income per common share for the three and nine months ended June 30, 2018 and 2017 is as follows (dollars in thousands, except share and per share amounts):



	Three Months Ended June 30,				Nine Months Ended June 30,
	2018		2017		2018		2017
Basic net income per common share computation
Numerator – net income	$	4,416	$	4,277	$	12,299	$	10,552

Denominator – weighted average common shares outstanding	7,345,618		7,269,564		7,328,702		7,088,134

Basic net income per common share	$	0.60	$	0.59	$	1.68	$	1.49

Diluted net income per common share computation
Numerator – net income	$	4,416	$	4,277	$	12,299	$	10,552

Denominator – weighted average common shares outstanding	7,345,618		7,269,564		7,328,702		7,088,134
Effect of dilutive stock options (1)	189,539		162,607		189,745		153,941
Effect of dilutive stock warrant (2)	—		—		—		106,411
Weighted average common shares outstanding - assuming dilution	7,535,157		7,432,171		7,518,447		7,348,486

Diluted net income per common share	$	0.59	$	0.58	$	1.64	$	1.44

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(1) For the three months ended June 30, 2018, all outstanding options were included in the computation of diluted net income per share. For the nine months ended June 30, 2018, average options to purchase 38,709 shares of common stock were outstanding but not included in the computation of diluted net income per common share because their effect would have been anti-dilutive. For the three and nine months ended June 30, 2017, all outstanding options were included in the computation of diluted net income per share.

(2) Represented a warrant to purchase 370,899 shares of the Company's common stock at an exercise price of $6.73 per share (subject to anti-dilution adjustments) at any time through December 23, 2018 (the "Warrant"). On January 31, 2017, the Warrant was exercised and 370,899 shares of the Company's common stock were issued in exchange for $2.50 million.