Net Income Per Common Share

9 Months Ended

Sep. 30, 2020

7. Net Income Per Common Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income per common share is as follows:

	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Numerator:
Net income	$	6,782	$	5,351	$	13,762	$	12,792
Denominator:
Basic:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding		27,781,080		27,910,030		27,772,509		27,785,024
Diluted:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding		27,781,080		27,910,030		27,772,509		27,785,024
Effect of potentially dilutive shares ⁽¹⁾		691,519		460,132		639,416		468,280
Total weighted average shares of common stock and vested, undelivered restricted stock units outstanding and potentially dilutive shares		28,472,599		28,370,162		28,411,925		28,253,304
Net Income Per Share:
Basic net income per share	$	0.24	$	0.19	$	0.50	$	0.46
Diluted net income per share	$	0.24	$	0.19	$	0.48	$	0.45

(1)

In calculating diluted net income per share, 22 thousand shares and 189 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2020, respectively, and 41 thousand and 700 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2019, respectively.