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6. Earnings Per Share
 6 Months Ended
Jun. 30, 2016
Earnings per share:  
Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2016 and 2015 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 six-month periods ended June 30, 2016 and 2015:

 

  Three Months Ended   Six Months Ended 
  June 30,   June 30, 
   2016   2015   2016   2015 
  (In thousands)   (In thousands) 
Weighted average number of common shares outstanding during the period used to compute basic earnings per share  24,538    26,234    24,917    25,936 
    $                
Incremental common shares attributable to exercise of outstanding options and warrants  4,573    5,683    4,715    6,019 
    $                
Weighted average number of common shares used to compute diluted earnings per share  29,111    31,917    29,632    31,955 

 

 

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 six-month periods ended June 30, 2016 would have included an additional 7.9 million and 7.4 million shares, respectively attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2015, an additional 5.7 million and 5.3 million shares, respectively, would be included in the diluted earnings per share calculation.