Earnings Per Share

9 Months Ended

Sep. 30, 2017

Note 7. Earnings Per Share

The following schedule reconciles the computation of basic and diluted earnings per share for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
In thousands, except per share amounts	2017		2016		2017		2016
Numerator:
Net income	$	5,309	$	6,476	$	19,078	$	17,564

Denominator:
Weighted average shares outstanding for basic earnings per share		11,563		11,384		11,537		11,963
Effect of dilutive securities		249		280		215		231

Weighted average shares adjusted for dilutive securities		11,812		11,664		11,752		12,194

Earnings per share:
Basic	$	0.46	$	0.57	$	1.65	$	1.47

Diluted	$	0.45	$	0.56	$	1.62	$	1.44

Options to purchase 240 thousand and 310 thousand shares of common stock were outstanding during the three and nine months ended September 30, 2017 and 2016, respectively, but were not included in the computation of diluted earnings per share because they were anti-dilutive.