Note

– Net Income Per Common Share

Basic net income per share is computed based on the weighted average number of common shares outstanding. Diluted net income per share is computed based on the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan.

The following table presents the calculation of net income per basic and diluted share attributable to common shareholders:


	Year Ended December 31,
(in thousands, except share and per share amounts)	2017		2016		2015

Net Income	$	51,778	$	42,707	$	46,514

Basic - weighted-average shares outstanding:		26,647,610		26,365,173		26,005,858
Effect of dilutive securities:
Employee stock options, restricted stock and other		197,461		199,466		314,426
Diluted - weighted-average shares outstanding:		26,845,071		26,564,639		26,320,284
Net income per share attributable to common shareholders:
Basic	$	1.94	$	1.62	$	1.79
Diluted	$	1.93	$	1.61	$	1.77