Note

Income

Per Share

Basic

income per share excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted income per share reflects the dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in our earnings. There were

anti-dilutive shares for the

three

and

nine

months ended

September 30, 2017

and

2016,

respectively. There were

outstanding stock options at

September 30, 2017.

Income per share is the same for both Class A and Class B shares.

The following table sets forth for the periods indicated the calculation of net

income per share included in the condensed consolidated statements of operations:

(in thousands except per share data)	Three Months ended September 30 ,				Nine Month s ended September 30 ,
	2017		2016		2017		2016
Numerator:
Net income	$	4,632	$	2,869	$	6,141	$	10,853
Denominator:
Denominator for basic earnings per share – weighted-average shares		18,288		18,194		18,275		18,177
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted stock		116		93		91		81
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions		18,404		18,287		18,366		18,258

Basic income per share:	$	0.25	$	0.16	$	0.34	$	0.60
Diluted income per share:	$	0.25	$	0.16	$	0.33	$	0.59