Net Income Per Common Share

3 Months Ended

Mar. 31, 2017

10. Net Income Per Common Share

Basic net income per common share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per common share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period, plus the potential dilutive effect of other securities if those securities were converted or exercised. During periods in which the Company incurs net losses, both basic and diluted loss per share is calculated by dividing the net loss by the weighted-average shares outstanding and potentially dilutive securities are excluded from the calculation because their effect would be antidilutive.


	Three Months Ended March 31,
(in thousands, except share and per share amounts)	2017		2016
Net income	$	4,138	$	10,323

Basic weighted-average common shares outstanding		36,888,718		30,368,240
Effect of dilutive restricted stock awards		1,409,647		4,451
Effect of dilutive stock options		302,991		—

Diluted weighted-average common shares outstanding		38,601,356		30,372,691

Basic income per common share outstanding	$	0.11	$	0.34

Diluted income per common share outstanding	$	0.11	$	0.34

Antidilutive securities excluded from diluted income per common share
Stock options and nonvested restricted stock		386,996		2,221,940