Table:
|  | Year ended December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Numerators |  |  |
| Numerator for basic and diluted earnings per share: |  |  |
| Net income | $13,267 | $3,654 |
| Denominators |  |  |
| Denominators for basic and diluted earnings per share: |  |  |
| Weighted average shares outstanding - basic | 17,424 | 20,721 |
| Dilutive potential common shares |  |  |
| Stock options and awards | 1,101 | 296 |
| Denominator for diluted earnings per share | 18,525 | 21,017 |
| Net income per common share - basic | $0.76 | $0.18 |
| Net income per common share – diluted | $0.72 | $0.17 |
Paragraphs:
Earnings per share for the periods indicated were computed as follows (in thousands except per share amounts):
Our weighted average shares outstanding has decreased due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018.
11.     Earnings Per Share
Question:
Why did the company's weighted average shares outstanding decrease?
Answer: due to the repurchase of our outstanding common stock through a modified Dutch auction tender offer (the “Tender Offer”) and the stock repurchase program announced on October 29, 2018.