XML 24 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Earnings per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

7.  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 June 30,

 

Six months ended June 30,



 

2017

 

2016

 

2017

 

2016



 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

 7,584 

 

$

 3,397 

 

$

 13,729 

 

$

 7,657 



 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

 11,929 

 

 

 11,811 

 

 

 11,915 

 

 

 11,817 

Effect of dilutive common stock equivalents

 

 

 127 

 

 

 73 

 

 

 129 

 

 

 74 

Weighted average shares of common stock outstanding

 

 

 12,056 

 

 

 11,884 

 

 

 12,044 

 

 

 11,891 



 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - basic

 

$

 0.64 

 

$

 0.29 

 

$

 1.15 

 

$

 0.65 



 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - diluted

 

$

 0.63 

 

$

 0.29 

 

$

 1.14 

 

$

 0.64 



The calculation of diluted earnings per share excluded 10,080 and 87,986 antidilutive options outstanding for the three months ended June 30, 2017 and 2016, respectively, and 8,278 and 98,000 antidilutive options outstanding for the six months ended June 30, 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.