Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.10.0.1
Earnings per Share (Tables)
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share

Basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017, respectively consisted of the following (in thousands, except per share data):

 

     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2018     2017     2018     2017  

Numerator (Basic and Diluted):

         

Net income

    $ 22,167     $ 15,569     $ 40,178     $ 27,569  
  

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

         

Basic

         

Weighted average common shares issued and outstanding

      38,606       38,100       38,576       38,075  

Deduct: Unvested RSAs (1)

      (31 )      (28 )      (31 )      (29 ) 

Add: Fully vested DSUs (2)

      579       930       579       930  
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted Average Common Shares Outstanding

      39,154       39,002       39,124       38,976  
  

 

 

    

 

 

    

 

 

    

 

 

  

Basic earnings per common share

    $ 0.57     $ 0.40     $ 1.03     $ 0.71  
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted

         

Weighted Average Common Shares Outstanding from above

      39,154       39,002       39,124       38,976  

Add: Dilutive effect of RSUs, RSAs & ESPP

      231       130       174       142  
  

 

 

    

 

 

    

 

 

    

 

 

  

Weighted Average Common Shares Outstanding

      39,385       39,132       39,298       39,118  
  

 

 

    

 

 

    

 

 

    

 

 

  

Diluted earnings per common share

    $ 0.56     $ 0.40     $ 1.02     $ 0.70  
  

 

 

    

 

 

    

 

 

    

 

 

  

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

      55       317       242       324  
  

 

 

    

 

 

    

 

 

    

 

 

  

 

(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 11 – “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 11 – “Stock-Based Compensation Plans” for additional information.
(3)

Primarily pertaining to RSU grants to the Company’s employees and independent contractors.