Earnings Per Share

12 Months Ended

Dec. 31, 2015


	Earnings Per Share

The computations of Basic and Diluted Earnings per Share for the years ended December 31 were as follows:



	2015		2014		2013
Numerator:
Net Earnings	$	32,088	$	50,651	$	40,231
Denominator:
Basic - Weighted Average Shares Outstanding	18,015,151		18,217,384		18,297,371
Effect of dilutive securities	478,296		523,474		536,082
Diluted - Weighted Average Shares Outstanding	18,493,447		18,740,858		18,833,453
Basic Earnings per Share	$	1.78	$	2.78	$	2.20
Diluted Earnings per Share	$	1.74	$	2.70	$	2.14

Options to purchase 222,092, 91,199 and 132,803 shares of Common Stock were outstanding during 2015, 2014 and 2013, respectively, but were not included in the computation of diluted earnings per share. These exclusions are made if the exercise prices of these options are greater than the average market price of our Common Stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted shares outstanding in the options, or if we have a net loss, as the effects are anti-dilutive.