Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.19.3
Earnings per Share
 9 Months Ended
Sep. 30, 2019
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, 2019 and 2018, respectively consisted of the following (in thousands, except per share data):
 
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
 
2019
   
2018
   
2019
   
2018
 
Numerator (Basic and Diluted):
   
     
     
     
 
Net income
  $
 
 
19,292
    $
 
 
20,854
    $
 
 
56,209
    $
 
 
61,032
 
                                 
Denominator:
   
     
     
     
 
Basic
   
     
     
     
 
Weighted average common shares issued and outstanding
   
39,116
     
38,641
     
39,062
     
38,598
 
Deduct: Unvested RSAs 
(1)
    
(17
 )    
(29
 )    
(21
 )    
(30
 )
Add: Fully vested DSUs 
(2)
    
342
     
579
     
342
     
579
 
                                 
Weighted Average Common Shares Outstanding
   
39,441
     
39,191
     
39,383
     
39,147
 
                                 
Basic earnings per common share
  $
0.49
    $
0.53
    $
1.43
    $
1.56
 
                                 
Diluted
   
     
     
     
 
Weighted Average Common Shares Outstanding from above
   
39,441
     
39,191
     
39,383
     
39,147
 
Add: Dilutive effect of RSUs, RSAs & ESPP
   
109
     
293
     
144
     
212
 
                                 
Weighted Average Common Shares Outstanding
   
39,550
     
39,484
     
39,527
     
39,359
 
                                 
Diluted earnings per common share
  $
0.49
    $
0.53
    $
1.42
    $
1.55
 
                                 
Antidilutive shares excluded from diluted earnings per common share 
(3)
    
425
     
76
     
325
     
250
 
                                 
(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 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​​​​​​​
.