NET INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2019

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three and six months ended June 30, 2019 and 2018 (in thousands, except share and per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018
Numerator:
Net income	$	43,440		$	10,814		$	74,914		$	16,773
Adjustment for Basic EPS:
Earnings allocated to unvested shareholders		(321	)		(122	)		(663	)		(217	)
Adjusted net income	$	43,119		$	10,692		$	74,251		$	16,556
Denominator:
Weighted average common shares outstanding – Basic		46,967,005			46,868,999			46,930,165			46,826,314
Effect of dilutive shares:
Common stock equivalents arising from stock options and ESPP		495			709			994			1,237
Restricted stock awards and units and performance units		29,202			31,390			35,013			45,558
Weighted average common shares outstanding – Diluted		46,996,702			46,901,098			46,966,172			46,873,109
Net income per common share:
Basic	$	0.92		$	0.23		$	1.58		$	0.35
Diluted	$	0.92		$	0.23		$	1.58		$	0.35