Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.22.1
Earnings per Share (Tables)
 3 Months Ended
Mar. 31, 2022
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, 2022 and 2021, respectively consisted of the following (in thousands, except per share data):
                 
     Three Months Ended
March 31,		  
     2022      2021  
Numerator (Basic and Diluted):
                  
Net income
    $ 32,783      $ 15,012  
Change in value for stock settled consideration
      (63 )       12  
    
 
 
     
 
 
  
Adjusted net income
    $ 32,720      $ 15,024  
    
 
 
     
 
 
  
     
Denominator:
                  
Basic
                  
Weighted average common shares issued and outstanding
      39,721        39,432  
Deduct: Unvested RSAs
(1)
      (13 )       (17 ) 
Add: Fully vested DSUs
(2)
      281        342  
    
 
 
     
 
 
  
Weighted average common shares outstanding
      39,989        39,757  
    
 
 
     
 
 
  
     
Basic earnings per common share
    $ 0.82      $ 0.38  
    
 
 
     
 
 
  
     
Diluted
                  
Weighted average common shares outstanding from above
      39,989        39,757  
Add: Dilutive effect of RSUs, RSAs & ESPP
      396        208  
Add: Contingently issuable shares
(3)
      89        159  
    
 
 
     
 
 
  
Weighted average common shares outstanding
      40,474        40,124  
    
 
 
     
 
 
  
Diluted earnings per common share
    $ 0.81      $ 0.37  
    
 
 
     
 
 
  
     
Antidilutive shares excluded from diluted earnings per common share
(4)
      778        230  
    
 
 
     
 
 
  
 
(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.