Note 10 - Earnings Per Share

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

EARNINGS PER SHARE

NOTE 10—EARNINGS PER SHARE

The following is the computation of basic and diluted EPS:

	Three months ended June 30,				Six months ended June 30,
(In thousands, except per share amounts)	2022		2021		2022		2021
Numerator
Net income	$	33,280	$	9,942	$	74,751	$	14,085
Denominator
Weighted average shares used to compute basic earnings per share		44,271		44,184		44,226		43,816
Dilutive effect of stock option awards		615		—		610		—
Dilutive effect of restricted stock units and performance stock units awards		249		—		186		—
Weighted average shares used to compute diluted earnings per share		45,135		44,184		45,022		43,816
Earnings (loss) per share
Basic	$	0.75	$	0.23	$	1.69	$	0.32
Diluted	$	0.74	$	0.23	$	1.66	$	0.32

Diluted EPS in the three and six months ended June 30, 2021 excluded 937,424 options to purchase our common stock because their effect would be anti-dilutive.