Note 11 - Earnings Per Share

12 Months Ended

Dec. 31, 2015

11. Earnings per Share

The following table sets forth the computation of basic and diluted earnings per share for the years ended December 31, 2015, 2014 and 2013.

	Years ended December 31,
	2015		2014		2013
	(in thousands, except per share data)

Net income	$	24,527	$	13,947	$	39,997

Weighted average common shares outstanding-basic		87,881		87,673		87,598
Plus: net effect of dilutive stock options and restricted common shares		480		491		746
Weighted average common shares outstanding-diluted		88,361		88,164		88,344
Net income per common share-basic	$	0.28	$	0.16	$	0.46
Net income per common share-diluted	$	0.28	$	0.16	$	0.45

For the years ended December 31, 2015, 2014 and 2013, 3,480,458, 2,422,628 and 1,111,795 stock options, respectively, were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive. For the years ended December 31, 2015, 2014 and 2013, restricted stock units representing 315,999, 90,905 and 88,327 shares of common stock, respectively, were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive.