Earnings Per Share

9 Months Ended

Sep. 30, 2016

Note 10. Earnings Per Share

The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
In thousands, except per share amounts	2016		2015		2016		2015
Numerator:
Net income	$	6,476	$	6,507	$	17,564	$	15,998

Denominator:
Weighted average shares outstanding for basic earnings per share		11,384		12,881		11,963		12,835
Effect of dilutive securities		280		230		231		228

Weighted average shares adjusted for dilutive securities		11,664		13,111		12,194		13,063

Earnings per share:
Basic	$	0.57	$	0.51	$	1.47	$	1.25

Diluted	$	0.56	$	0.50	$	1.44	$	1.22

Options to purchase 310 thousand and 488 thousand shares of common stock were outstanding during the three and nine months ended September 30, 2016 and 2015, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.