Net Income per Share

3 Months Ended

Mar. 31, 2017

7. Net Income per Share

Basic earnings per share is based on the weighted average number of shares of common stock outstanding, and diluted earnings per share is based on the weighted average number of shares of common stock outstanding and all potentially dilutive common stock equivalents outstanding. Common stock equivalents are included in the per share calculations when the effect of their inclusion is dilutive.

The following is a reconciliation of basic to diluted net income per share:

	Quarter Ended
	March 31, 2017		March 31, 2016
Net income	$	10,326	$	8,810
Shares used in net income per common share - basic		28,763		25,740
Incremental shares of unvested restricted common stock		134		19
Shares used in net income per common share - diluted		28,897		25,759
Earnings per share:
Basic net income	$	0.36	$	0.34
Diluted net income	$	0.36	$	0.34