Earnings Per Share

6 Months Ended

Jun. 30, 2021

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, 2021		June 30, 2020		June 30, 2021		June 30, 2020
Numerator:	(in thousands, except share and per share data)
Net income	$	20,615	$	17,804	$	36,991	$	39,657
Denominator:
Basic weighted average shares	52,432,822		52,099,694		52,389,989		52,160,348
Effect of dilutive stock options and restricted stock	1,171,110		650,707		1,346,145		725,143
Diluted weighted average shares	53,603,932		52,750,401		53,736,134		52,885,491
Earnings per share:
Basic	$	0.39	$	0.34	$	0.71	$	0.76
Diluted	$	0.38	$	0.34	$	0.69	$	0.75
Anti-dilutive shares:
Shares	397,656		1,047,616		249,140		650,526