Earnings Per Share

6 Months Ended

Jun. 30, 2015

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards.



	Three months ended				Six months ended
	June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
	(in thousands, except share and per share data)
Numerator:
Net income	$	11,130	$	11,363	$	19,529	$	21,185
Denominator:
Basic weighted average shares	54,208,362		55,004,175		54,205,657		55,036,281
Effect of dilutive stock options and restricted stock	461,401		564,037		508,947		567,698
Diluted weighted average shares	54,669,763		55,568,212		54,714,604		55,603,979
Earnings per share:
Basic	$	0.21	$	0.21	$	0.36	$	0.38
Diluted	$	0.20	$	0.20	$	0.36	$	0.38
Anti-dilutive shares:
Shares	145,136		18,445		134,625		19,448