Earnings Per Share

6 Months Ended

Jun. 30, 2019

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:



	Three months ended				Six months ended
	June 30, 2019		June 30, 2018		June 30, 2019		June 30, 2018
	(in thousands, except share and per share data)
Numerator:
Net income	$	12,961	$	11,691	$	23,863	$	15,951
Denominator:
Basic weighted average shares	52,120,272		52,383,842		52,087,626		52,348,912
Effect of dilutive stock options and restricted stock	626,927		333,945		502,219		405,133
Diluted weighted average shares	52,747,199		52,717,787		52,589,845		52,754,045
Earnings per share:
Basic	$	0.25	$	0.22	$	0.46	$	0.30
Diluted	$	0.25	$	0.22	$	0.45	$	0.30
Anti-dilutive shares:
Shares	1,898,078		2,161,244		1,912,902		1,919,008