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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2018
Earnings Per Share  
Earnings Per Share

Note 2–Earnings Per Share

 

Basic earnings per common share is computed using the weighted average number of shares outstanding. Diluted earnings per share is computed using the weighted average number of shares outstanding adjusted for the incremental shares attributable to non-vested stock units and stock options outstanding, if dilutive.

 

The following table sets forth the computation of basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

 

    

2018

    

2017

    

2018

    

2017

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

13,766

 

$

13,117

 

$

43,292

 

$

34,134

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator for basic earnings per share

 

 

26,716

 

 

26,802

 

 

26,745

 

 

26,754

 

Dilutive effect of employee stock awards

 

 

186

 

 

97

 

 

138

 

 

132

 

Denominator for diluted earnings per share

 

 

26,902

 

 

26,899

 

 

26,883

 

 

26,886

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.52

 

$

0.49

 

$

1.62

 

$

1.28

 

Diluted

 

$

0.51

 

$

0.49

 

$

1.61

 

$

1.27

 

 

For the three and nine months ended September 30, 2018 and 2017, we had no outstanding non-vested stock units that were excluded from the computation of diluted earnings per share because including them would have had an anti-dilutive effect.