4. EARNING PER SHARE

Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of shares of the Company’s common stock outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of shares of the Company’s 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,
	2018		2017		2018		2017

Numerator:
Net income	$	13,781	$	6,686	$	40,136	$	20,415

Denominator:
Weighted average shares of common stock outstanding		11,954		11,930		12,006		11,920
Effect of dilutive common stock equivalents		143		165		106		143
Weighted average shares of common stock outstanding		12,097		12,095		12,112		12,063

Earnings per share - basic	$	1.15	$	0.56	$	3.34	$	1.71

Earnings per share - diluted	$	1.14	$	0.55	$	3.31	$	1.69

The calculation of diluted EPS excluded 0 and 3,813 antidilutive options outstanding for the three months ended September 30, 2018 and 2017, respectively, and 214 and 6,780 antidilutive options outstanding for the nine months ended September 30, 2018 and 2017, respectively. The calculation for diluted EPS for the three and nine months ended, September 30, 2018 also excluded 43 and 297 antidilutive restricted stock awards, 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.