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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2017
Earnings Per Share  
Earnings Per Share

Note 2–Earnings Per Share

 

Basic earnings per common share is computed using the weighted average number of shares outstanding.  Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to nonvested stock units and stock options outstanding, if dilutive.

 

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

March 31, 

    

2017

    

2016

 

Numerator:

 

 

 

 

 

 

 

Net income

 

$

7,432

 

$

9,063

 

Denominator:

 

 

 

 

 

 

 

Denominator for basic earnings per share

 

 

26,697

 

 

26,499

 

Dilutive effect of employee stock awards

 

 

169

 

 

172

 

Denominator for diluted earnings per share

 

 

26,866

 

 

26,671

 

Earnings per share:

 

 

 

 

 

 

 

Basic

 

$

0.28

 

$

0.34

 

Diluted

 

$

0.28

 

$

0.34

 

 

For the three months ended March 31, 2017 and 2016, the following outstanding nonvested stock units were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

March 31, 

    

2017

    

2016

 

Employee stock based awards

 

$

 —

 

$

117