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Earnings Per Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share:
| Three Months Ended June 30, |  | Six Months Ended June 30, |  |
(in thousands, except per share data) | 2022 |  | 2021 |  | 2022 |  | 2021 |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income | $ | 11,057 |  |  | $ | 2,886 |  |  | $ | 21,317 |  |  | $ | 3,980 |  |  |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Denominator for basic earnings per share - weighted average shares | 10,244 |  |  | 9,233 |  |  | 10,226 |  |  | 9,212 |  |  |  |  |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Employee stock options and stock grants | 187 |  |  | 98 |  |  | 151 |  |  | 103 |  |  |  |  |
Denominator for diluted earnings per share - weighted average shares | 10,431 |  |  | 9,331 |  |  | 10,377 |  |  | 9,315 |  |  |  |  |
Net income per share: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1.08 |  |  | $ | 0.31 |  |  | $ | 2.08 |  |  | $ | 0.43 |  |  |  |  |
Diluted | $ | 1.06 |  |  | $ | 0.31 |  |  | $ | 2.05 |  |  | $ | 0.43 |  |  |  |  |
The diluted earnings per share calculations exclude the effect of potentially dilutive shares when the inclusion of those shares in the calculation would have an anti-dilutive effect. The Company had 0.1 million shares of common stock that were anti-dilutive for the three months ended June 30, 2022. The Company had an insignificant number of shares that were anti-dilutive for the six months ended June 30, 2022. The Company had 0.2 million shares of common stock that were anti-dilutive for both the three and six months ended June 30, 2021.

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