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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
(3)
EARNINGS PER SHARE
 
Basic earnings per share are computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding and the number of dilutive potential common share equivalents during the period, calculated using the treasury-stock method for outstanding stock options.
 
The calculation of basic and diluted earnings per share for the three and nine months ended September 30, 2018 and 2017 are as follows:
 
 
 
For the Three Months Ended September 30,
 
 
For the Nine Months Ended September 30,
 
 
 
2018
 
 
2017
 
 
2018
 
 
2017
 
Basic income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income available to common stockholders
 
$
2,591
 
 
$
2,200
 
 
$
6,930
 
 
$
4,058
 
Basic weighted average shares outstanding
 
 
32,521
 
 
 
32,327
 
 
 
32,580
 
 
 
31,931
 
Basic income per share:
 
$
0.08
 
 
$
0.07
 
 
$
0.21
 
 
$
0.13
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income available to common stockholders
 
$
2,591
 
 
$
2,200
 
 
$
6,930
 
 
$
4,058
 
Weighted average shares outstanding
 
 
32,521
 
 
 
32,327
 
 
 
32,580
 
 
 
31,931
 
Effect of dilutive securities - options and restricted stock
 
 
1,410
 
 
 
1,218
 
 
 
1,591
 
 
 
859
 
Diluted weighted average shares outstanding
 
 
33,931
 
 
 
33,545
 
 
 
34,171
 
 
 
32,790
 
Diluted income per share:
 
$
0.08
 
 
$
0.07
 
 
$
0.20
 
 
$
0.12
 
 
For the three and nine months ended September 30, 2018, 0.3 million shares of common stock were excluded from the dilutive stock calculation because their exercise prices were greater than the average fair value of our common stock for the period.
 
For the three and nine months ended September 30, 2017, 1.0 million and 0.8 million shares, respectively, of common stock were excluded from the dilutive stock calculation because their exercise prices were greater than the average fair value of our common stock for the period.
 
Prior to their issuance on August 28, 2017, the dilutive securities calculation included 776,250 shares of common stock issuable related to the private placement, which was completed on February 28, 2017. The common shares were issuable six months from the closing of the shareholder notes.