Earnings Per Share

9 Months Ended

Sep. 30, 2018

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				Nine months ended
	September 30, 2018		September 30, 2017		September 30, 2018		September 30, 2017
	(in thousands, except share and per share data)
Numerator:
Net income	$	14,085	$	14,717	$	30,036	$	38,728
Denominator:
Basic weighted average shares	52,238,796		52,566,619		52,315,719		52,586,429
Effect of dilutive stock options and restricted stock	388,745		447,650		399,671		516,979
Diluted weighted average shares	52,627,541		53,014,269		52,715,390		53,103,408
Earnings per share:
Basic	$	0.27	$	0.28	$	0.57	$	0.74
Diluted	$	0.27	$	0.28	$	0.57	$	0.73
Anti-dilutive shares:
Shares	1,950,343		842,631		1,929,453		795,678