3. Income per share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Income per share

The following is the computation for basic and diluted income per share:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
	(in thousands, except per share amounts)
Net income	$	10,026	$	7,450	$	19,976	$	14,396
Weighted average basic shares outstanding		1,844		1,822		1,839		1,823
Add: Effect of dilutive securities		14		31		17		32
Weighted average diluted shares outstanding		1,858		1,853		1,856		1,855
Earnings per share:
Basic	$	5.44	$	4.09	$	10.86	$	7.90
Diluted	$	5.40	$	4.02	$	10.76	$	7.76

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. Dilutive securities representing 2,342 and 41 shares of common stock for the quarters ended June 30, 2017 and 2016, respectively, were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.