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NET INCOME PER COMMON SHARE (Tables)
 12 Months Ended
Dec. 31, 2018
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the year ended December 31, 2018, 2017 and 2016 (in thousands, except share and per share data):

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

 

2015

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

58,840

 

 

 

103,885

 

 

 

48,070

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

 

 

 

 

Earnings allocated to unvested shareholders

 

$

(690

)

 

 

(1,638

)

 

 

(734

)

Adjusted net income

 

$

58,150

 

 

 

102,247

 

 

 

47,336

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

46,849,588

 

 

 

46,725,289

 

 

 

46,408,460

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock

   options and ESPP

 

 

1,956

 

 

 

2,611

 

 

 

5,398

 

Restricted stock awards and units and performance

   units

 

 

45,222

 

 

 

77,294

 

 

 

122,122

 

Weighted average common shares

   outstanding – Diluted

 

 

46,896,766

 

 

 

46,805,194

 

 

 

46,535,980

 

Net income per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.24

 

 

$

2.19

 

 

$

1.02

 

Diluted

 

$

1.24

 

 

$

2.18

 

 

$

1.02