Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Earnings Per Share

6. EARNINGS PER SHARE

Basic 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 for the years ended December 31, 2019, 2018 and 2017 (in thousands, except per share data):

	2019		2018		2017
Numerator:
Net income	$	77,916	$	55,789	$	27,721
Denominator:
Weighted average shares of common stock outstanding		11,771		11,947		11,924
Effect of dilutive common stock equivalents		346		132		164
Weighted average shares of common stock outstanding		12,117		12,079		12,088
Earnings per share - basic	$	6.62	$	4.67	$	2.32
Earnings per share - diluted	$	6.43	$	4.62	$	2.29

The calculation of diluted earnings per share excluded 984, 298, and 3,125 antidilutive options outstanding for the years ended December 31, 2019, 2018 and 2017, respectively. The calculation of diluted earnings per share for the years ended December 31, 2019, 2018 and 2017 also excluded 718, 258 and 0 antidilutive restricted stock awards, respectively.