Earnings Per Share

12 Months Ended

Dec. 31, 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.

The following table sets forth the computation of basic and diluted earnings per share:



	2018		2017		2016
Numerator:	(in thousands, except share and per share data)
Net income	$	42,572	$	54,498	$	53,376
Denominator:
Basic weighted average shares	52,284,616		52,572,496		52,924,398
Effect of dilutive stock options and restricted stock	383,323		506,238		525,356
Diluted weighted average shares	52,667,939		53,078,734		53,449,754
Earnings per share:
Basic	$	0.81	$	1.04	$	1.01
Dilutive	$	0.81	$	1.03	$	1.00
Anti-dilutive shares:
Shares	1,920,313		785,825		469,603