Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.20.2
Earnings per Share
 9 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Earnings per Share
14.
Earnings per Share
Basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019, respectively consisted of the following (in thousands, except per share data):
 
     Three Months
 
Ended
September 30,		      Nine Months Ended
September 30,		  
     2020      2019      2020      2019  
Numerator (Basic and Diluted):
            
Net income
    $ 6,040      $
 
 19,292      $
 
 19,216      $
 
 56,209  
  
 
 
     
 
 
     
 
 
     
 
 
  
Denominator:
            
Basic
            
Weighted average common shares issued and outstanding
      39,357        39,116        39,293        39,062  
Deduct: Unvested RSAs
(1)
      (18 )       (17 )       (18 )       (21 ) 
Add: Fully vested DSUs
(2)
      342        342        342        342  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted Average Common Shares Outstanding
      39,681        39,441        39,617        39,383  
  
 
 
     
 
 
     
 
 
     
 
 
  
Basic earnings per common share
    $ 0.15      $ 0.49      $ 0.49      $ 1.43  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted
            
Weighted Average Common Shares Outstanding from above
      39,681        39,441        39,617        39,383  
Add: Dilutive effect of RSUs, RSAs & ESPP
      46        109        59        144  
  
 
 
     
 
 
     
 
 
     
 
 
  
Weighted Average Common Shares Outstanding
      39,727        39,550        39,676        39,527  
  
 
 
     
 
 
     
 
 
     
 
 
  
Diluted earnings per common share
    $ 0.15      $ 0.49      $ 0.48      $ 1.42  
  
 
 
     
 
 
     
 
 
     
 
 
  
Antidilutive shares excluded from diluted earnings per common share
(3)
      696        425        719        325  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)
RSAs were issued and outstanding to the
non-employee
directors and have a
one-year
vesting term subject to service requirements. See Note 12 – “Stock-Based Compensation Plans” for additional information.
(2)
Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 12 – “Stock-Based Compensation Plans” for additional information.
(3)
Primarily pertaining to RSU grants to the Company’s employees and independent contractors.