Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.20.1
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2020
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 months ended March 31, 2020 and 2019, respectively consisted of the following (in thousands, except per share data):
 
Three Months Ended
March 31,
 
 
2020
   
2019
 
Numerator (Basic and Diluted):
   
     
 
Net income
  $ 
13,070
    $ 
15,638
 
                 
Denominator:
   
     
 
Basic
    
     
 
Weighted average common shares issued and outstanding
   
39,217
     
38,996
 
Deduct: Unvested RSAs
 
(1)
    
(18
 )    
(27
 )
Add: Fully vested DSUs
 
(2)
    
342
     
342
 
                 
Weighted Average Common Shares Outstanding
   
39,541
     
39,311
 
                 
Basic earnings per common share
  $
0.33
    $
0.40
 
                 
Diluted
    
     
 
Weighted Average Common Shares Outstanding from above
   
39,541
     
39,311
 
Add: Dilutive effect of RSUs, RSAs & ESPP
   
105
     
204
 
                 
Weighted Average Common Shares Outstanding
   
39,646
     
39,515
 
                 
Diluted earnings per common share
  $
0.33
    $
0.40
 
                 
Antidilutive shares excluded from diluted earnings per common share
 
(3)
    
521
     
212
 
                 
(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.