NOTE 4 EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed by dividing net income available to common stockholders by the weighted‑average number of common shares outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive common shares. The dilutive effect of options and nonvested stock issued under stock‑based compensation plans is computed using the treasury stock method. The dilutive effect of the warrants is computed using the if‑converted method prior to their exercise.

Information related to our EPS calculations is summarized as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(In thousands, except per share amounts)	2017		2016		2017		2016
Basic EPS:
Numerator:
Net income	$	10,516	$	7,996	$	19,295	$	158,731
Net income attributable to noncontrolling interests		(12)		(23)		(12)		(23)
Net income attributable to common stockholders	$	10,504	$	7,973	$	19,283	$	158,708

Denominator:
Weighted average basic common shares outstanding	$	42,845	$	39,502	$	40,860	$	39,489

Diluted EPS:
Numerator:
Net income attributable to common stockholders	$	10,504	$	7,973	$	19,283	$	158,708

Denominator:
Weighted average basic common shares outstanding		42,845		39,502		40,860		39,489
Restricted stock and stock options		420		366		455		338
Warrants		2		2,892		1,783		2,892
Weighted average diluted common shares outstanding		43,267		42,760		43,098		42,719

Basic income per share:	$	0.25	$	0.20	$	0.47	$	4.02

Diluted income per share:	$	0.24	$	0.19	$	0.45	$	3.72

The diluted EPS computation for the three and nine months ended September 30, 2017 excludes 311,500 and 317,000 stock options, respectively, because their inclusion would have been anti-dilutive. The diluted EPS computation for the three and nine months ended September 30, 2017 excludes 185,573 shares of restricted stock, because market conditions have not been met.

The diluted EPS computation for the three and nine months ended September 30, 2016 excludes 343,500 and 404,000 stock options, respectively, because their inclusion would have been anti-dilutive. The diluted EPS computation for the three and nine months ended September 30, 2016 excludes 153,781 shares of restricted stock, respectively, because performance conditions have not been met.