Earnings Per Share

3 Months Ended

Mar. 31, 2019

(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.

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


Three months ended March 31,	2019	2018
Basic weighted-average Common Shares outstanding	28,529,301	28,249,420
Effect of dilutive shares	555,507	686,610
Diluted weighted-average Common Shares outstanding	29,084,808	28,936,030

There were no performance-based restricted Common Shares outstanding at March 31, 2019 or 2018. There were 691,207 and 622,960 performance-based right to receive Common Shares outstanding at March 31, 2019 and 2018, 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.