Adjusted net income available to common stockholders was $26.4 million, or adjusted earnings per diluted share of $1.46, for the third quarter of 2016. This compares to $26.7 million, or adjusted earnings per diluted share of $1.43, for the same period of 2015. The slight decrease in adjusted net income was mainly due to lower gross profit. The decrease was partially offset by lower income taxes and a decline in general and administrative expenses. The increase in adjusted earnings per diluted share was due to a decrease in weighted average diluted shares outstanding.
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Adjusted net income available to common stockholders was $26.4 million, or adjusted earnings per diluted share of $1.46, for the third quarter of 2016. This compares to $26.7 million, or adjusted earnings per diluted share of $1.43, for the same period of 2015. The slight decrease in adjusted net income was mainly due to lower gross profit. The decrease was partially offset by lower income taxes and a decline in general and administrative expenses. The increase in adjusted earnings per diluted share was due to a decrease in weighted average diluted shares outstanding.
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