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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2020
Earnings Per Share  
Earnings Per Share

Note 3–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 non-vested 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 ,

 

 

    

2020

    

2019

 

Numerator:

 

 

 

 

 

 

 

Net income

 

$

14,896

 

$

12,727

 

Denominator:

 

 

 

 

 

 

 

Denominator for basic earnings per share

 

 

26,236

 

 

26,359

 

Dilutive effect of unvested employee stock awards

 

 

185

 

 

166

 

Denominator for diluted earnings per share

 

 

26,421

 

 

26,525

 

Earnings per share:

 

 

 

 

 

 

 

Basic

 

$

0.57

 

$

0.48

 

Diluted

 

$

0.56

 

$

0.48

 

 

For the three months ended March 31, 2020 and 2019, we had no outstanding non-vested stock units that were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.