Earnings Per Share

6 Months Ended

Jun. 30, 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				Six months ended
	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015
	(in thousands, except share and per share data)
Numerator:
Net income	$	14,341	$	11,130	$	25,147	$	19,529
Denominator:
Basic weighted average shares	53,036,009		54,208,362		53,028,224		54,205,657
Effect of dilutive stock options and restricted stock	365,229		461,401		367,137		508,947
Diluted weighted average shares	53,401,238		54,669,763		53,395,361		54,714,604
Earnings per share:
Basic	$	0.27	$	0.21	$	0.47	$	0.36
Diluted	$	0.27	$	0.20	$	0.47	$	0.36
Anti-dilutive shares:
Shares	504,955		145,136		493,264		134,625