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, 2018.

There were

outstanding stock options at

September 30, 2018.

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 Months ended September 30,
	2018		2017		2018		2017
Numerator:
Net income	$	11,614	$	4,632	$	26,002	$	6,141
Denominator:
Denominator for basic earnings per share – weighted-average shares		18,343		18,288		18,337		18,275
Effect of dilutive securities:
Equivalent shares issuable upon conversion of unvested restricted stock		154		116		111		91
Denominator for diluted earnings per share – adjusted weighted-average shares and assumed conversions		18,497		18,404		18,448		18,366

Basic income per share:	$	0.63	$	0.25	$	1.42	$	0.34
Diluted income per share:	$	0.63	$	0.25	$	1.41	$	0.33