Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.21.2
Earnings per Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Earnings per Share
12. Earnings per Share
Basic and diluted earnings per share for the three and six months ended June 30, 2021 and 2020, respectively consisted of the following (in thousands, except per share data):
 
     Three Months Ended
June 30,		     Six Months Ended
June 30,		  
     2021     2020     2021     2020  
Numerator (Basic and Diluted):
                                 
Net income
    $ 31,532     $ 106     $ 46,544     $ 13,176  
Change in value for stock settled consideration
      (42 )      —         10       —    
    
 
 
    
 
 
    
 
 
    
 
 
  
Adjusted net income
    $ 31,490     $ 106     $ 46,554     $ 13,176  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
                                 
Basic
                                 
Weighted average common shares issued and outstanding
      39,549       39,306       39,491       39,261  
Deduct: Unvested RSAs
(1)
      (14 )      (19 )      (16 )      (18 ) 
Add: Fully vested DSUs
(2)
      342       342       342       342  
    
 
 
    
 
 
    
 
 
    
 
 
  
Weighted average common shares outstanding
      39,877       39,629       39,817       39,585  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic earnings per common share
    $ 0.79     $ —       $ 1.17     $ 0.33  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted
                                 
Weighted average common shares outstanding from above
      39,877       39,629       39,817       39,585  
Add: Dilutive effect of RSUs, RSAs & ESPP
      149       44       182       77  
Add: Contingently issuable shares
(3)
      113       —         113       —    
    
 
 
    
 
 
    
 
 
    
 
 
  
Weighted average common shares outstanding
      40,139       39,673       40,112       39,662  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted earnings per common share
    $ 0.78     $ —       $ 1.16     $ 0.33  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Antidilutive shares excluded from diluted earnings per common share
(4)
      48       738       275       636  
    
 
 
    
 
 
    
 
 
    
 
 
  
 
(1)
RSAs were issued and outstanding to the
non-employee
directors and have a
one-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)
Relates to contingently issuable stock settled consideration.
(4)
Primarily pertaining to RSU grants to the Company’s employees and independent contractors.