EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2019

Earnings per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method):



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per share data)	2019		2018		2019		2018
Income from continuing operations	$	23,954	$	33,711	$	48,226	$	59,082
Income from discontinued operations	1,494		320		857		197
Net income	$	25,448	$	34,031	$	49,083	$	59,279

Average number of common shares issued	49,026		46,212		47,627		46,212
Less: average number of treasury shares	754		788		736		828
Less: average number of unvested stock award shares	354		435		384		428
Plus: average participating preferred shares	1,043		1,043		1,043		1,043
Average number of basic shares outstanding	48,961		46,032		47,550		45,999
Plus: dilutive effect of unvested stock award shares	107		152		120		176
Plus: dilutive effect of stock options outstanding	46		31		30		31
Average number of diluted shares outstanding	49,114		46,215		47,700		46,206

Basic earnings per common share:
Continuing operations	$	0.49	$	0.73	$	1.01	$	1.29
Discontinued operations	0.03		0.01		0.02		—
Total	$	0.52	$	0.74	$	1.03	$	1.29

Diluted earnings per common share:
Continuing operations	$	0.49	$	0.73	$	1.01	$	1.28
Discontinued operations	0.03		0.01		0.02		—
Total	$	0.52	$	0.74	$	1.03	$	1.28

For the six months ended June 30, 2019, 269 thousand shares of restricted stock and 46 thousand options were anti-dilutive and therefore excluded from the earnings per share calculations. For the six months ended June 30, 2018, 252 thousand shares of restricted stock and 33 thousand options were anti-dilutive and therefore excluded from the earnings per share calculations.