Earnings Per Share

6 Months Ended

Jun. 30, 2023

3. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022

	(In thousands, except per share amounts)
Numerator:
Net earnings	$	4,864	$	4,495	$	12,309	$	8,548

Denominator:
Basic weighted average shares outstanding		9,440		9,549		9,461		9,572
Effect of dilutive securities:
Employee share-based awards		102		115		164		83
Diluted weighted average shares outstanding		9,542		9,664		9,625		9,655

Basic earnings per share	$	0.51	$	0.47	$	1.30	$	0.89

Diluted earnings per share	$	0.50	$	0.47	$	1.28	$	0.89

Diluted weighted average shares outstanding for the three months ended June 30, 2023, excluded anti-dilutive stock options totaling 433,000 shares of common stock at a weighted average exercise price of $30.75. Diluted weighted average shares outstanding for the six months ended June 30, 2023, excluded anti-dilutive stock options totaling 735,000 shares of common stock at a weighted average exercise price of $28.78. Diluted weighted average shares outstanding for the three months ended June 30, 2022, excluded anti-dilutive stock options totaling 483,000 shares of common stock at a weighted average exercise price of $28.73. Diluted weighted average shares outstanding for the six months ended June 30, 2022, excluded anti-dilutive stock options totaling 704,000 shares of common stock at a weighted average exercise price of $27.99.