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NET INCOME PER COMMON SHARE (Tables)
 3 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three months ended March 31, 2019 and 2018 (in thousands, except share and per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2019

 

 

2018

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

31,474

 

 

$

5,959

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

 

(325

)

 

 

(87

)

Adjusted net income

 

$

31,149

 

 

$

5,872

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

46,892,914

 

 

 

46,783,158

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock

   options and ESPP

 

 

800

 

 

 

837

 

Restricted stock awards and units and performance

   units

 

 

38,285

 

 

 

64,803

 

Weighted average common shares

   outstanding – Diluted

 

 

46,931,999

 

 

 

46,848,798

 

Net income per common share:

 

 

 

 

 

 

 

 

Basic

 

$

0.66

 

 

$

0.13

 

Diluted

 

$

0.66

 

 

$

0.13