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Earnings Per Share
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share

11.       Earnings Per Share

 

Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated:

 

Year ended December 31,  2016   2015   2014 
             
Numerator:               
Net income  $87,472   $62,126   $38,628 
Denominator:               
Weighted average number of common shares outstanding – Basic   18,931,415    18,696,659    19,367,928 
Dilutive effect of options and restricted stock units outstanding under the Company’s employee compensation plans   118,100    668,420    469,480 
Weighted average number of common shares outstanding – Diluted   19,049,515    19,365,079    19,837,408 

 

The dilutive effect of outstanding options and restricted stock units is calculated using the treasury stock method. There are no anti-dilutive stock options in 2016, 2015, and 2014 because the closing price of the Company’s stock on December 31, 2016, 2015, and 2014 exceeded the strike price of all outstanding options on that date.