Earnings Per Share

3 Months Ended

Mar. 31, 2016

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
	March 31, 2016		March 31, 2015
	(in thousands, except share and per share data)
Numerator:
Net income	$	10,806	$	8,399
Denominator:
Basic weighted average shares	53,061,058		54,083,897
Effect of dilutive stock options and restricted stock	369,045		556,492
Diluted weighted average shares	53,430,103		54,640,389
Earnings per share:
Basic	$	0.20	$	0.16
Diluted	$	0.20	$	0.15
Anti-dilutive shares:
Shares	481,572		124,114