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Net Income per Common Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Income Per Common Share

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(In Thousands, Except Per Share Amounts)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

9,555

 

 

$

25,095

 

 

$

15,178

 

 

$

40,996

 

Numerator for basic and diluted net
  income per common share

 

$

9,555

 

 

$

25,095

 

 

$

15,178

 

 

$

40,996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic net income per
   common share - adjusted weighted-average
   shares (1)

 

 

71,700

 

 

 

75,170

 

 

 

72,271

 

 

 

75,488

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Unvested restricted stock and stock units

 

 

330

 

 

 

491

 

 

 

331

 

 

 

498

 

Dilutive potential common shares

 

 

330

 

 

 

491

 

 

 

331

 

 

 

498

 

Denominator for diluted net income per
   common share - adjusted weighted-average
   shares

 

 

72,030

 

 

 

75,661

 

 

 

72,602

 

 

 

75,986

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per common share

 

$

0.13

 

 

$

0.33

 

 

$

0.21

 

 

$

0.54

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

 

$

0.13

 

 

$

0.33

 

 

$

0.21

 

 

$

0.54

 

_____________________________

(1)
All periods exclude the weighted-average shares of unvested restricted stock that are contingently issuable.
Antidilutive Securities Excluded from Computation of Diluted Net Income Per Common Share

The following weighted-average shares of securities were not included in the computation of diluted net income per common share as their effect would have been antidilutive:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock and stock units

 

 

667,947

 

 

 

636,072

 

 

 

691,255

 

 

 

515,687

 

Stock options

 

 

13,000

 

 

 

13,000

 

 

 

13,000

 

 

 

13,000

 

 

 

680,947

 

 

 

649,072

 

 

 

704,255

 

 

 

528,687