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Computation of Earnings Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

(2) Computation of Earnings Per Share

The calculation of basic earnings per common share and diluted earnings per common share was as follows (in thousands, except per share amounts):

 

 

 

Second Quarter

 

 

Six Months

 

 

 

2018

 

 

2017 As Adjusted

(Note 1)

 

 

2018

 

 

2017 As Adjusted

(Note 1)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

30,281

 

 

$

17,571

 

 

$

51,406

 

 

$

28,966

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic  earnings per share–weighted

     average common shares

 

 

25,766

 

 

 

25,501

 

 

 

25,732

 

 

 

25,477

 

Effect of dilutive stock options

 

 

167

 

 

 

100

 

 

 

170

 

 

 

108

 

Effect of other common stock equivalents

 

 

421

 

 

 

399

 

 

 

424

 

 

 

397

 

Denominator for diluted earnings per share–adjusted

     weighted average common shares

 

 

26,354

 

 

 

26,000

 

 

 

26,326

 

 

 

25,982

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share

 

$

1.18

 

 

$

0.69

 

 

$

2.00

 

 

$

1.14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share

 

$

1.15

 

 

$

0.68

 

 

$

1.95

 

 

$

1.12

 

 

For the quarter and six months ended June 30, 2018, options and restricted stock for 45,150 and 61,233 shares of common stock, respectively, were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.  For the quarter and six months ended June 30, 2017, options and restricted stock for 204,628 and 226,164 shares of common stock, respectively, were excluded from the calculation of diluted earnings per share because their effect was anti-dilutive.