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7. Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Income per share:  
Earnings Per Share

Earnings per share for the three-month and nine-month periods ended September 30, 2014 and 2013 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and nine-month periods ended September 30, 2014 and 2013:

 

   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2014   2013   2014   2013 
   (In thousands)   (In thousands) 
Weighted average number of common shares outstanding during the period used to compute basic earnings per share   25,290    21,795    24,895    20,959 
                     
Incremental common shares attributable to exercise of outstanding options and warrants   6,750    9,422    7,126    10,591 
                     
Weighted average number of common shares used to compute diluted earnings per share   32,040    31,217    32,021    31,550 

 

 

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and nine-month periods ended September 30, 2014 would have included an additional 4.0 and 3.1 million shares, respectively attributable to the exercise of outstanding options and warrants. For the three-month and nine-month periods ended September 30, 2013, the anti-dilutive shares were 3.1 million and 1.9 million, respectively.