Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.8.0.1
Earnings per Share
3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Earnings per Share
12. Earnings per Share

Basic and diluted earnings per share for the three months ended March 31, 2018 and 2017, respectively consisted of the following (in thousands, except per share data):

 

     Three Months
Ended March 31,
 
     2018      2017  

Numerator (Basic and Diluted):

     

Net income

   $ 18,011      $ 12,000  
  

 

 

    

 

 

 

Denominator:

     

Basic

     

Weighted average common shares issued and outstanding

     38,547        38,047  

Deduct: Unvested RSAs (1)

     (31      (29

Add: Fully vested DSUs (2)

     579        930  
  

 

 

    

 

 

 

Weighted Average Common Shares Outstanding

     39,095        38,948  
  

 

 

    

 

 

 

Basic earnings per common share

   $ 0.46      $ 0.31  
  

 

 

    

 

 

 

Diluted

     

Weighted Average Common Shares Outstanding from above

     39,095        38,948  

Add: Dilutive effect of RSUs, RSAs & ESPP

     155        160  
  

 

 

    

 

 

 

Weighted Average Common Shares Outstanding

     39,250        39,108  
  

 

 

    

 

 

 

Diluted earnings per common share

   $ 0.46      $ 0.31  
  

 

 

    

 

 

 

Antidilutive shares excluded from diluted earnings per common share (3)

     291        299  
  

 

 

    

 

 

 

 

(1) RSAs were issued and outstanding to the non-employee directors and have a one-year or three-year vesting term subject to service requirements. See Note 10 – “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 10 – “Stock-Based Compensation Plans” for additional information.
(3) Primarily pertaining to RSU grants to the Company’s employees and independent contractors.