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Earnings Per Share
 9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

8.  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 September 30,

 

Nine months ended September 30,



 

2017

 

2016

 

2017

 

2016

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

 6,686 

 

$

 6,065 

 

$

 20,415 

 

$

 13,722 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

 

 11,930 

 

 

 11,848 

 

 

 11,920 

 

 

 11,839 

 

Effect of dilutive common stock equivalents

 

 

 165 

 

 

 100 

 

 

 143 

 

 

 86 

 

Weighted average shares of common stock outstanding

 

 

 12,095 

 

 

 11,948 

 

 

 12,063 

 

 

 11,925 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - basic

 

$

 0.56 

 

$

 0.51 

 

$

 1.71 

 

$

 1.16 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - diluted

 

$

 0.55 

 

$

 0.51 

 

$

 1.69 

 

$

 1.15 

 



The calculation of diluted earnings per share excluded 3,813 and 10,000 antidilutive options outstanding for the three months ended September 30, 2017 and 2016, respectively, and 6,780 and 87,500 antidilutive options outstanding for the nine months ended September 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.