Earnings Per Share

3 Months Ended

Mar. 31, 2016

11. Earnings Per Share

Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury stock method. Common equivalent shares consist of common stock issuable on the vesting of restricted stock units and exercise of outstanding options when dilutive.

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


	Three Months Ended March 31,
	2016		2015
Net income	$	8,118	$	5,974

Weighted average shares outstanding, basic		52,806,364		43,313,200
Weighted average common equivalent shares		479,776		—
Weighted average shares outstanding, diluted		53,286,140		43,313,200

Net earnings per share
Basic	$	0.15	$	0.14
Diluted	$	0.15	$	0.14