Earnings Per Share

6 Months Ended

Jun. 30, 2016

(2) Earnings Per Share

The Company computes earnings per share in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share (“ASC 260”). A reconciliation of the component parts of earnings per share for the three months and six months ended June 30, 2016 and 2015 is as follows:

(in thousands, except per share data)	For the three months ended June 30:				For the six months ended June 30:
	2016		2015		2016		2015
Net income	$	10,464		10,727	$	20,875		21,442
Weighted average common shares		95,487		95,056		95,426		95,002
Stock Options		93		134		70		130
Weighted average common shares including potential dilutive shares		95,580		95,190		95,496		95,132

Basic EPS	$	0.110		0.113	$	0.219		0.226

Diluted EPS	$	0.109		0.113	$	0.219		0.225

For the three months and six months ended June 30, 2016, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.6 million. For the three and six months ended June 30, 2015 the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 1.4 million. The stock options are antidilutive because the strike price is greater than the average fair value of the Company’s common stock for the periods presented.