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Earnings Per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share

9. Earnings Per Share

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

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2014

 

 

 

2013

 

 

 

2014

 

 

 

2013

 

 

(In thousands, except per share amounts)

 

Net income from continuing operations

$

18,191

 

 

$

19,289

 

 

$

35,666

 

 

$

34,834

 

Income (loss) from discontinued operations

 

—

 

 

 

54

 

 

 

—

 

 

 

(165

)

Net income

$

18,191

 

 

$

19,343

 

 

$

35,666

 

 

$

34,669

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

37,015

 

 

 

36,868

 

 

 

37,068

 

 

 

36,821

 

Basic earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

0.49

 

 

$

0.52

 

 

$

0.96

 

 

$

0.94

 

Income (loss) from discontinued operations

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Basic earnings per share

$

0.49

 

 

$

0.52

 

 

$

0.96

 

 

$

0.94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

37,015

 

 

 

36,868

 

 

 

37,068

 

 

 

36,821

 

Dilutive effect of stock options and restricted stock

 

927

 

 

 

951

 

 

 

951

 

 

 

925

 

Diluted weighted average shares outstanding

 

37,942

 

 

 

37,819

 

 

 

38,019

 

 

 

37,746

 

Diluted earnings per common share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

$

0.48

 

 

$

0.51

 

 

$

0.94

 

 

$

0.92

 

Income (loss) from discontinued operations

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Diluted earnings per share

$

0.48

 

 

$

0.51

 

 

$

0.94

 

 

$

0.92

 

 

Stock options and restricted stock totaling 51,273 shares and 70,332 shares for the three months ended June 30, 2014 and 2013, respectively, and 116,832 shares and 276,524 shares for the six months ended June 30, 2014 and 2013, respectively, were excluded from the computation of diluted earnings per share because their effect would have been antidilutive. The computation of diluted shares can vary among periods due, in part, to the change in the average price of the Company’s common stock.