Earnings per Share

12 Months Ended

Dec. 31, 2020

15.	Earnings per Share

The computation of basic earnings per share (“EPS”) is based on the Company’s net income divided by the weighted average number of common shares outstanding. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options and restricted share units were exercised / released. The dilutive effect of stock options and restricted share units were calculated using the treasury stock method.

For the years ended December 31, 2020, 2019 and 2018, there were 0, 518,000 and 141,000 anti-dilutive stock options that were excluded from the computation of diluted earnings per share, respectively.

The following table sets forth the denominators of the basic and diluted EPS computations.


	Years Ended December 31,
(Amounts in thousands)	2020		2019		2018
Weighted-average shares outstanding:
Basic		11,292		11,029		10,950
Stock options and restricted share units		658		203		211

Diluted		11,950		11,232		11,161

The following table sets forth the computation of basic EPS utilizing net income and the Company’s weighted-average common stock outstanding:


	Years Ended December 31,
(Amounts in thousands, except per share data)	2020		2019		2018
Net income	$	9,861	$	11,145	$	6,691
Basic weighted-average shares outstanding		11,292		11,029		10,950

Basic EPS	$	.87	$	1.01	$	.61

The following table sets forth the computation of diluted EPS utilizing net income and the Company’s weighted-average common stock outstanding plus the weighted-average of stock options, restricted shares and performance shares:


	Years Ended December 31,
(Amounts in thousands, except per share data)	2020		2019		2018
Net income	$	9,861	$	11,145	$	6,691
Diluted weighted-average shares outstanding		11,950		11,232		11,161

Diluted EPS	$	.83	$	.99	$	.60