Earnings Per Share

6 Months Ended

Jun. 30, 2017

11. EARNINGS PER SHARE

A summary of the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2017 and 2016 is as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In thousands, except per share amounts)	2017		2016		2017		2016
Numerator
Net income	$	12,401	$	10,228	$	19,052	$	15,242
Denominator
Weighted average number of shares – basic		48,036		48,831		48,232		49,026
Effect of dilutive securities
Stock options		279		161		348		138
PSUs, RSUs and restricted stock		98		56		95		54
Weighted average number of shares – diluted		48,413		49,048		48,675		49,218
Net income per share – basic	$	0.26	$	0.21	$	0.40	$	0.31
Net income per share – diluted	$	0.26	$	0.21	$	0.39	$	0.31

Anti-dilutive options to purchase common stock outstanding were excluded from the above calculations. Anti-dilutive options totaled 4.1 million and 5.6 million for the three months ended June 30, 2017 and 2016, respectively, and 4.1 million and 5.8 million for the six months ended June 30, 2017 and 2016, respectively.