Note 4 - Net Income Per Common Share

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4 – Net Income Per Common Share

Basic net income per share is computed based on the weighted average number of common shares outstanding. Diluted net income per share is computed based on the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan.

The following table presents the calculation of net income per basic and diluted share attributable to common shareholders:

	Year Ended December 31,
(in thousands, except share and per share amounts)	2019		2018		2017
Net Income	$	63,655	$	76,588	$	51,778
Basic - weighted-average shares outstanding:		26,866,985		26,982,614		26,647,610
Effect of dilutive securities:
Employee stock options and other		182,438		296,202		197,461
Diluted - weighted-average shares outstanding:		27,049,423		27,278,816		26,845,071
Net income per share attributable to common shareholders:
Basic	$	2.37	$	2.84	$	1.94
Diluted	$	2.35	$	2.81	$	1.93