Net Income per Share

6 Months Ended

Jun. 30, 2018

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				Year to Date Ended
	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Net income	$	19,007	$	15,384	$	28,008	$	25,710
Shares used in net income per common share - basic		28,979		28,978		29,085		28,873
Incremental shares of unvested restricted common stock		110		136		160		169
Shares used in net income per common share - diluted		29,089		29,114		29,245		29,042
Earnings per share:
Basic net income	$	0.66	$	0.53	$	0.96	$	0.89
Diluted net income	$	0.65	$	0.53	$	0.96	$	0.89