Earnings Per Share

6 Months Ended

Jun. 30, 2016


15.	Earnings Per Share

The computations of Basic and Diluted Earnings per Share were as follows:



	Three Months Ended				Six Months Ended
	June 30				June 30
	2016		2015		2016		2015
Numerator:
Net Earnings	$	15,328	$	14,817	$	19,767	$	19,843
Denominator:
Basic - Weighted Average Shares Outstanding	17,508,022		18,197,431		17,526,107		18,240,027
Effect of dilutive securities:
Share-based compensation plans	425,221		474,609		428,060		484,832
Diluted - Weighted Average Shares Outstanding	17,933,243		18,672,040		17,954,167		18,724,859
Basic Earnings per Share	$	0.88	$	0.81	$	1.13	$	1.09
Diluted Earnings per Share	$	0.85	$	0.79	$	1.10	$	1.06

Excluded from the dilutive securities shown above were options to purchase 408,979 and 237,405 shares of Common Stock during the three months ended June 30, 2016 and 2015, respectively. Excluded from the dilutive securities shown above were options to purchase 405,123 and 215,767 shares of Common Stock during the six months ended June 30, 2016 and 2015, respectively. These exclusions were made if the exercise prices of the options are greater than the average market price of our Common Stock for the period, if the number of shares we can repurchase under the treasury stock method exceeds the weighted average shares outstanding in the options or if we have a net loss, as these effects are anti-dilutive.