Earnings Per Share

9 Months Ended

Sep. 30, 2023

3. Earnings Per Share

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022

	(In thousands, except per share amounts)
Numerator:
Net earnings	$	9,337	$	10,770	$	21,646	$	19,318

Denominator:
Basic weighted average shares outstanding		9,451		9,535		9,458		9,560
Effect of dilutive securities:
Employee share-based awards		79		70		81		78
Diluted weighted average shares outstanding		9,530		9,605		9,539		9,638

Basic earnings per share	$	0.99	$	1.13	$	2.29	$	2.02

Diluted earnings per share	$	0.98	$	1.12	$	2.27	$	2.01

Diluted weighted average shares outstanding for the three months ended September 30, 2023, excluded anti-dilutive stock options totaling 606,000 shares of common stock at a weighted average exercise price of $28.13. Diluted weighted average shares outstanding for the nine months ended September 30, 2023, excluded anti-dilutive stock options totaling 692,000 shares of common stock at a weighted average exercise price of $28.56. Diluted weighted average shares outstanding for the three months ended September 30, 2022, excluded anti-dilutive stock options totaling 1,046,000 shares of common stock at a weighted average exercise price of $26.80. Diluted weighted average shares outstanding for the nine months ended September 30, 2022, excluded anti-dilutive stock options totaling 819,000 shares of common stock at a weighted average exercise price of $27.59.