NET INCOME PER COMMON SHARE (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020 and 2019 (in thousands, except share and per share data):

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Numerator:
Net income	$	815		$	43,440		$	38,970		$	74,914
Adjustment for Basic EPS:
Earnings allocated to unvested shareholders		(6	)		(321	)		(318	)		(663	)
Adjusted net income	$	809		$	43,119		$	38,652		$	74,251
Denominator:
Weighted average common shares outstanding – Basic		47,227,294			46,967,005			47,160,163			46,930,165
Effect of dilutive shares:
Common stock equivalents arising from stock options and ESPP		483			495			924			994
Restricted stock awards and units and performance units		16,214			29,202			29,418			35,013
Weighted average common shares outstanding – Diluted		47,243,991			46,996,702			47,190,505			46,966,172
Net income per common share:
Basic	$	0.02		$	0.92		$	0.82		$	1.58
Diluted	$	0.02		$	0.92		$	0.82		$	1.58