Note 12 - Earnings Per Share

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Earnings Per Share [Text Block]

1

2

. Earnings Per Share

The following shows the reconciliation of weighted average shares used in the calculation of basic and diluted earnings per share: 

	Year Ended December 31,
	201 8		201 7		20 1 6
Denominator
Weighted average common stock—basic		43,690,581		42,165,213		40,565,433
Effect of potentially dilutive securities:
Add options to purchase common stock		—		—		1,300,649
Add unvested restricted stock unit		—		—		2,158,260
Add employee stock purchase plan		—		—		8,240
Add convertible debt		—		—		92,299
Weighted average common stock—diluted		43,690,581		42,165,213		44,124,881

The following securities were

not

included in the computation of diluted earnings per share as inclusion would have been anti-dilutive:

	Year Ended December 31,
	201 8		201 7		201 6
Common stock options		1,208,643		1,456,610		—
Unvested restricted stock unit		2,871,135		2,935,500		284,871
Convertible debt		10,830,038		10,830,038		5,834,522
		14,909,816		15,222,148		6,119,393