INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2015

NOTE H — INCOME PER COMMON SHARE

Basic income per common share has been computed by dividing net income by the weighted-average number of shares of the Company’s common stock outstanding. Diluted income per common share adjusts net income and basic income per common share for the effect of all potentially dilutive shares of the Company’s common stock. The calculations of basic and diluted income per common share for the years ended December 31, 2015, 2014, and 2013 are as follows:


	2015		2014		2013
	(in thousands - except per share amounts)
Net income – Basic and Diluted	$	12,278	$	1,544	$	9,281

Weighted-average shares outstanding – Basic		13,850		13,519		12,757
Effect of dilutive securities:
Stock options and restricted stock		416		455		286

Weighted-average shares outstanding – Diluted		14,266		13,974		13,043


Basic income per common share	$	0.89	$	0.11	$	0.73


Diluted income per common share	$	0.86	$	0.11	$	0.71

The computations of diluted income per common share for the years ended December 31, 2015, 2014 and 2013 excludes options to purchase 1,467,857, 2,004,836 and 1,417,145 shares of the Company’s common stock, respectively. These shares were excluded due to their antidilutive effect.