Note 11 - Net Income Per Share

6 Months Ended

Jun. 30, 2018

(

)

Net Income Per Share

The following table reflects, for the

three

and

six

months ended

June 30, 2018

and

2017,

net income (numerator) and average shares outstanding (denominator) for basic and diluted net income per share computations:

	Three months ended				Six months ended
(In thousands, except per share data)	June 30,				June 30,
	2018		2017		2018		2017
Net income	$	13,579	$	10,602	$	26,983	$	21,393
Average shares outstanding		22,625		22,538		22,601		22,515
Dilutive securities		354		458		374		483

Average shares outstanding including dilutive securities including dilutive securities		22,979		22,996		22,975		22,998

Net income per share, basic	$	0.60	$	0.47	$	1.19	$	0.95
Net income per share, diluted	$	0.59	$	0.46	$	1.17	$	0.93

As of

June 30, 2018,

SARs totaling

47,410

granted in

March 2017

and

January 2018

with strike prices of

$40

and

$38.30,

respectively, were

not

included in the

six

months ended

June 30

EPS calculation, nor were

46,410

issued in

March 2017

included in the quarterly calculation as they were antidilutive; however they could be dilutive to EPS in the future.