INCOME PER COMMON SHARE

12 Months Ended

Dec. 31, 2016

NOTE I — 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, 2016, 2015 and 2014, are as follows:


	2016		2015		2014
	(in thousands - except per share amounts)
Net income – Basic and Diluted	$	15,720	$	12,278	$	1,544
Weighted-average shares outstanding – Basic		14,174		13,850		13,519
Effect of dilutive securities:
Stock options and restricted stock		375		416		455

Weighted-average shares outstanding – Diluted		14,549		14,266		13,974

Basic income per common share	$	1.11	$	0.89	$	0.11

Diluted income per common share	$	1.08	$	0.86	$	0.11

The computations of diluted income per common share for the years ended December 31, 2016, 2015 and 2014 excludes options to purchase 1,268,240, 1,467,857 and 2,004,836 shares of the Company’s common stock, respectively. The computation of diluted income per common share for the year ended December 31, 2016 excludes 66,873 restricted shares. These shares were excluded due to their antidilutive effect.