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Earnings Per Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Earnings Per Share

13.Earnings Per Share

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

Year ended December 31,

2019

2018

2017

 

Numerator:

Net income

$

32,291

$

50,933

$

52,142

Denominator:

Weighted average number of common shares outstanding – Basic

17,461,421

17,450,658

17,725,494

Dilutive effect of options and restricted stock units outstanding under the Company’s employee compensation plans

317,411

203,973

213,596

Weighted average number of common shares outstanding – Diluted

17,778,832

17,654,631

17,939,090

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 2019, 2018, and 2017 because the closing price of the Company’s stock on December 31, 2019, 2018, and 2017 exceeded the strike price of all outstanding options on each of those dates.