Earnings Per Share

3 Months Ended

Mar. 31, 2023

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share data):


	Three Months Ended March 31,
		2023		2022
Numerator for basic and diluted net income per common share:
Net income from continuing operations attributable to common shareholders		$	15,458	$	18,521
Net income available to participating securities (1)		(21)		(52)
Net income available to common shareholders from operations		$	15,437	$	18,469
Denominator:
Weighted-average outstanding shares of common stock		19,847,280		19,921,375
Dilutive effect of:
Equity incentive plans		27,655		102,801
Employee Stock Purchase Plan		9,722		11,651
Common stock and common stock equivalents		19,884,657		20,035,827
Net income per share from operations:
Basic		$	0.78	$	0.93
Diluted		$	0.78	$	0.92

(1) Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).

For the three months ended March 31, 2023 and 2022, there were 597,542 and 500,585 anti-dilutive shares, respectively, that were excluded from the earnings per share calculation.