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Earnings Per Share (Tables)
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Summary of Calculation of Basic and Diluted Earnings Per Share

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

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In thousands, except per share amounts)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

15,898

 

 

$

12,415

 

 

$

34,950

 

 

$

27,657

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares – basic

 

 

47,870

 

 

 

48,470

 

 

 

48,110

 

 

 

48,839

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

487

 

 

 

137

 

 

 

385

 

 

 

137

 

PSUs, RSUs and restricted stock

 

 

174

 

 

 

71

 

 

 

123

 

 

 

60

 

Weighted average number of shares – diluted

 

 

48,531

 

 

 

48,678

 

 

 

48,618

 

 

 

49,036

 

Net income per share – basic

 

$

0.33

 

 

$

0.26

 

 

$

0.73

 

 

$

0.57

 

Net income per share – diluted

 

$

0.33

 

 

$

0.26

 

 

$

0.72

 

 

$

0.56