NOTE 2 – Earnings per Share

Earnings per share (“EPS”) are calculated by dividing net income attributable to common stockholders by the weighted-average number of shares of Common Stock outstanding during the period. Diluted EPS are calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. A total of 0.9 million and 1.9 million stock options and stock awards outstanding during the three months ended June 30, 2017 and 2016, respectively, and 0.8 million and 1.9 million stock options and stock awards outstanding during the six months ended June 20, 2017 and 2016, respectively, were excluded from the calculation because the effect was anti-dilutive.

The table below sets forth the reconciliation between net income (loss) and the weighted average shares outstanding used for calculating basic and diluted EPS for the three and six months ended June 30, 2017 and 2016:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Earnings (numerator)
Net income attributable to common stockholders	$	13,179	$	5,752	$	14,396	$	4,019

Shares (denominator)
Weighted average common shares outstanding (basic)		48,518		48,383		48,418		48,336
Dilutive effect of stock options and stock awards outstanding		1,426		1,117		1,389		1,044
Adjusted weighted average common shares outstanding (diluted)		49,944		49,500		49,807		49,380

Earnings per share attributable to common stockholders
Basic	$	0.27	$	0.12	$	0.30	$	0.08
Diluted	$	0.26	$	0.12	$	0.29	$	0.08