Earnings Per Share

6 Months Ended

Jun. 30, 2019

NOTE 2 – Earnings per Share

Earnings per share (“EPS”) is 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 is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive. During the three and six months ended June 30, 2019 and 2018 we paid no dividends on our Common Stock.

The table below sets forth the reconciliation between net income and the weighted average shares outstanding used for calculating basic and diluted EPS:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Earnings (numerator)
Net income attributable to common stockholders	$	36,284	$	25,068	$	68,000	$	43,594

Shares (denominator)
Weighted average common shares outstanding (basic)		50,658		49,680		50,529		49,509
Dilutive effect of stock options and stock awards outstanding		962		1,112		1,037		1,218
Adjusted weighted average common shares outstanding (diluted)		51,620		50,792		51,566		50,727

Earnings per share attributable to common stockholders
Basic	$	0.72	$	0.50	$	1.35	$	0.88
Diluted	$	0.70	$	0.49	$	1.32	$	0.86

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		131		24		95		13