Earnings Per Share

6 Months Ended

Jun. 30, 2018

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.



	Three months ended				Six months ended
	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
	(in thousands, except share and per share data)
Numerator:
Net income	$	11,691	$	13,794	$	15,951	$	24,011
Denominator:
Basic weighted average shares	52,383,842		52,615,366		52,348,912		52,624,782
Effect of dilutive stock options and restricted stock	333,945		535,768		405,133		551,643
Diluted weighted average shares	52,717,787		53,151,134		52,754,045		53,176,425
Earnings per share:
Basic	$	0.22	$	0.26	$	0.30	$	0.46
Diluted	$	0.22	$	0.26	$	0.30	$	0.45
Anti-dilutive shares:
Shares	2,161,244		760,438		1,919,008		772,202