Earnings Per Share (EPS)

9 Months Ended

Sep. 30, 2019

Earnings Per Share ("EPS")

Basic EPS was computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted EPS was computed under the treasury stock method by dividing net income by the sum of the weighted average number of shares of common stock outstanding and potentially dilutive securities outstanding during the period under the treasury stock method. Potentially dilutive securities include unvested equity awards that are expected to vest and shares that the Company is contractually obligated to issue in the future.

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



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2019		2018		2019		2018
Calculation of net income per share:
Net income	$	14,354	$	15,534	$	41,414	$	31,743
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Basic net income per share	$	0.29	$	0.31	$	0.83	$	0.64

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Effect from dilutive shares and options outstanding	272		558		283		517
Diluted weighted average shares outstanding	50,129		50,117		50,110		50,044
Diluted net income per share	$	0.29	$	0.31	$	0.83	$	0.63

The computation of diluted EPS does not include certain unvested awards, on a weighted average basis, because their inclusion would have an anti-dilutive effect on EPS. The awards excluded because of their anti-dilutive effect were as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2019	2018	2019	2018
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive	93	13	109	60