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Earnings Per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share





 

 



11.

Earnings Per Share:



We have adopted the provisions of ASC 260, “Earnings Per Share,” requiring presentation of both basic and diluted earnings per share. A reconciliation of the numerators and denominators of the basic and diluted per share calculations is presented below (in thousands, except per share amounts):







 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

2016

 

2015

 

2014

Numerator for both basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

Net income

 

$

 6,526 

 

$

 21,863 

 

$

 13,429 



 

 

 

 

 

 

 

 

 

Denominator, basic shares

 

 

 18,780 

 

 

 19,211 

 

 

 19,197 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Stock-based compensation awards

 

 

 161 

 

 

 194 

 

 

 169 

Denominator, diluted shares

 

 

 18,941 

 

 

 19,405 

 

 

 19,366 



 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

$

 0.35 

 

$

 1.14 

 

$

 0.70 



 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

$

 0.34 

 

$

 1.13 

 

$

 0.69 



We had 272,500 shares, 267,500 shares and 544,999 shares of common stock potentially issuable upon exercise of employee stock options for years ended December 31, 2016, 2015 and 2014, respectively, that were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive. These instruments expire at varying times from 2017 to 2021.