Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings per share was calculated as follows:



	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands, except per-share amounts)	2018		2017		2018		2017
BASIC
Net income	$	22,659	$	4,684	$	22,072	$	4,803
Weighted-average common shares outstanding	14,070		14,404		14,078		14,427
Basic earnings per share	$	1.61	$	0.33	$	1.57	$	0.33

DILUTED
Net income	$	22,659	$	4,684	$	22,072	$	4,803
Weighted-average common shares outstanding for basic	14,070		14,404		14,078		14,427
Dilutive effect of stock options, restricted stock and common stock warrants	88		279		117		273
Weighted-average common shares outstanding on a diluted basis	14,158		14,683		14,195		14,700
Diluted earnings per share	$	1.60	$	0.32	$	1.55	$	0.33

The following number of stock options, shares of restricted stock and common stock warrants were excluded from the computation of diluted earnings per common share as their inclusion would have been anti-dilutive:



	Three Months Ended June 30,		Six Months Ended June 30,
(In thousands)	2018	2017	2018	2017
Stock options	382	165	357	147
Restricted stock awards	204	—	172	29
Performance-based warrants	—	—	—	—