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INCOME PER COMMON SHARE | 9 Months Ended
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Sep. 30, 2016
INCOME PER COMMON SHARE | 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 during the relevant period. 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 three and nine month periods ended September 30, 2016 and 2015 are as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
|  | (in thousands, except per share amounts) |
Net income – basic and diluted |  | $ | 6,452 |  |  | $ | 5,104 |  |  | $ | 973 |  |  | $ | 1,272 |
Weighted-average shares outstanding – basic |  |  | 14,266 |  |  |  | 13,912 |  |  |  | 14,129 |  |  |  | 13,824 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Stock options and restricted stock |  |  | 365 |  |  |  | 395 |  |  |  | 365 |  |  |  | 418 |
Weighted-average shares outstanding – diluted |  |  | 14,631 |  |  |  | 14,307 |  |  |  | 14,494 |  |  |  | 14,242 |
Basic income per common share |  | $ | 0.45 |  |  | $ | 0.37 |  |  | $ | 0.07 |  |  | $ | 0.09 |
Diluted income per common share |  | $ | 0.44 |  |  | $ | 0.36 |  |  | $ | 0.07 |  |  | $ | 0.09 |
The computation of diluted income per common share for the three September 30, 2016 excludes options to purchase 523,375 shares. The computation of diluted income per common share for the nine months ended September 30, 2016 excludes options to purchase 1,543,387 shares and 89,164 restricted shares. The computation of diluted income per common share for the three and nine months ended September 30, 2015 excludes options to purchase 682,900 shares and 1,732,076 shares, respectively. These shares were excluded due to their antidilutive effects.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1278-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64863997&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=65016374&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
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