4. EARNING PER SHARE

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2018		2017		2018		2017

Numerator:
Net income	$	14,133	$	7,584	$	26,355	$	13,729

Denominator:
Weighted average shares of common stock outstanding		12,037		11,929		12,032		11,915
Effect of dilutive common stock equivalents		137		127		97		129
Weighted average shares of common stock outstanding		12,174		12,056		12,129		12,044

Earnings per share - basic	$	1.17	$	0.64	$	2.19	$	1.15

Earnings per share - diluted	$	1.16	$	0.63	$	2.17	$	1.14

The calculation of diluted earnings per share excluded 56 and 10,080 antidilutive options outstanding for the three months ended June 30, 2018 and 2017, respectively, and 6,220 and 8,278 antidilutive options outstanding for the six months ended June 30, 2018 and 2017, respectively. EPS is computed independently for each of the quarters presented; accordingly, the sum of the quarterly earnings per common share may not equal the year-to-date total computed.