Earnings per Share

6 Months Ended

Jun. 30, 2020

8.	Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended June 30, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	3,258	$	5,515

Denominator
Basic weighted-average shares outstanding		35,276		34,924
Common stock equivalents arising from stock options and restricted stock awards		134		659
Diluted weighted-average shares outstanding		35,410		35,583

The computational components of basic and diluted earnings per share for the six-month periods ended June 30, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	6,670	$	7,379

Denominator
Basic weighted-average shares outstanding		35,216		34,880
Common stock equivalents arising from stock options and restricted stock awards		187		592
Diluted weighted-average shares outstanding		35,403		35,472

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 June 30, 2020 and 2019, 0.6 million and 0.4 million, respectively, and during each of the six-month periods ended June 30, 2020 and 2019, 0.5 million 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.