(9) Earnings Per Share

Basic earnings per share was computed by dividing net income by the weighted-average number of Common Shares outstanding for each respective period. Diluted earnings per share was calculated by dividing net income by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. The weighted-average dilutive Common Shares calculation excludes the excess tax benefit from the treasury stock method for the three and six months ended June 30, 2018 and 2017.

Weighted-average Common Shares outstanding used in calculating basic and diluted earnings per share were as follows:


	Three months ended		Six months ended
	June 30,		June 30,
	2018	2017	2018	2017
Basic weighted-average Common Shares outstanding	28,449,303	28,133,432	28,349,362	28,025,805
Effect of dilutive shares	528,444	384,010	557,995	504,874
Diluted weighted-average Common Shares outstanding	28,977,747	28,517,442	28,907,357	28,530,679

There were no performance-based restricted Common Shares outstanding at June 30, 2018 or 2017. There were 614,670 and 753,150 performance-based right to receive Common Shares outstanding at June 30, 2018 and 2017, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.