Earnings and Dividends per Share

3 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Earnings and Dividends per Share

9. Earnings and Dividends per Share

The computational components of basic and diluted earnings per share for the three-month periods ended March 31, 2019 and 2018 are below.

	For the three month period ended March 31,
	2019		2018
(Table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	1,864	$	5,763
Denominator
Basic weighted-average shares outstanding		34,836		34,593
Common stock equivalents arising from stock options and restricted stock awards		524		48
Diluted weighted-average shares outstanding		35,360		34,641

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended March 31, 2019 and 2018, 0.5 million and 0.6 million respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.