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Earnings Per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

6.  EARNINGS PER SHARE

Basic earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing the net income available to common shareholders for the period by the weighted average number of potentially dilutive common and common equivalent shares outstanding during the period. Common equivalent shares are composed of incremental common shares issuable upon the exercise of stock options and RSUs subject to vesting. The dilutive effect of common equivalent shares is included in diluted earnings per share by application of the treasury stock method. The total number of common equivalent shares excluded from the calculations of diluted earnings per share, due to their anti-dilutive effect or contingent performance conditions, was approximately 70,000 and 31,000 for the three months ended September 30, 2018 and 2017, respectively, and approximately 100,000 and 68,000 for the nine months ended September 30, 2018 and 2017, respectively.

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2018 and 2017 (in thousands, except per share data):

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

3,036

 

 

$

1,735

 

 

$

10,320

 

 

$

5,668

 

Income from discontinued operations

 

 

—

 

 

 

769

 

 

 

19,107

 

 

 

388

 

Net income

 

$

3,036

 

 

$

2,504

 

 

$

29,427

 

 

$

6,056

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares outstanding

 

 

32,322

 

 

 

31,893

 

 

 

32,244

 

 

 

31,848

 

Effect of dilutive shares

 

 

93

 

 

 

324

 

 

 

64

 

 

 

335

 

Weighted-average diluted shares

 

 

32,415

 

 

 

32,217

 

 

 

32,308

 

 

 

32,183

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share – basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.09

 

 

$

0.06

 

 

$

0.32

 

 

$

0.18

 

Discontinued operations

 

 

—

 

 

 

0.02

 

 

 

0.59

 

 

 

0.01

 

Earnings per share - basic

 

$

0.09

 

 

$

0.08

 

 

$

0.91

 

 

$

0.19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) per share – diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

0.09

 

 

$

0.06

 

 

$

0.32

 

 

$

0.18

 

Discontinued operations

 

 

—

 

 

 

0.02

 

 

 

0.59

 

 

 

0.01

 

Earnings per share - diluted

 

$

0.09

 

 

$

0.08

 

 

$

0.91

 

 

$

0.19