Earnings Per Share

6 Months Ended

Jun. 30, 2017

(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 and six months ended June 30, 2017 and 2016 is as follows:

(in thousands, except per share data)	For the three months ended June 30:				For the six months ended June 30:
(in thousands, except per share data)	For the three months ended June 30:				For the six months ended June 30:
	2017		2016		2017		2016
Net income	$	12,240		10,464	$	23,187		20,875
Weighted average common shares		96,003		95,487		95,944		95,426
Stock Options		70		93		90		70
Weighted average common shares including potential dilutive shares		96,073		95,580		96,034		95,496

Basic EPS	$	0.127		0.110	$	0.242		0.219

Diluted EPS	$	0.127		0.109	$	0.241		0.219

For the three and six months ended June 30, 2017, the weighted average number of antidilutive stock options excluded from diluted earnings per share was approximately 412 thousand. For the three 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. 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.