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Earnings per Share
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

6.  EARNING PER SHARE

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of common stock outstanding during the periods presented.   Diluted EPS is calculated utilizing the weighted average number of shares of common stock outstanding adjusted for the effect of dilutive common stock equivalents.

The following table sets forth the computation of basic and diluted EPS (in thousands, except per share data):





 

 

 

 

 

 

 



 

Three months ended March 31,

 



 

2017

 

2016

 

Numerator:

 

 

 

 

 

 

 

Net income

 

$

 6,145 

 

$

 4,260 

 



 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

 11,901 

 

 

 11,862 

 

Effect of dilutive common stock equivalents

 

 

 108 

 

 

 60 

 

Weighted average shares of common stock outstanding

 

 

 12,009 

 

 

 11,922 

 



 

 

 

 

 

 

 

Earnings per share - basic

 

$

 0.52 

 

$

 0.36 

 



 

 

 

 

 

 

 

Earnings per share - diluted

 

$

 0.51 

 

$

 0.36 

 



The calculation of diluted earnings per share excluded 4,531 and 103,997 antidilutive options outstanding for the three months ended March 31, 2017 and 2016, respectively.  EPS is computed independently for each of the quarters presented; accordingly, the sum of the quarterly earnings per common share may not equal the year-to-date total computed.