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, 2017, 2016 and 2015, are as follows:


	2017		2016		2015
	(in thousands - except per share amounts)
Net income – Basic and Diluted	$	2,154	$	15,720	$	12,278
Weighted-average shares outstanding – Basic		14,505		14,174		13,850
Effect of dilutive securities:
Stock options and other stock awards		450		375		416

Weighted-average shares outstanding – Diluted		14,955		14,549		14,266

Basic income per common share	$	0.15	$	1.11	$	0.89

Diluted income per common share	$	0.14	$	1.08	$	0.86

The computations of diluted income per common share for the years ended December 31, 2017, 2016 and 2015 excludes 1,190,261, 1,335,113 and 1,467,857, respectively, related to options to purchase shares and other stock awards. These shares were excluded due to their antidilutive effect.