Earnings Per Share

9 Months Ended

Sep. 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 nine months ended September 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				Nine Months Ended
	September 30,				September 30,
	2019		2018		2019		2018
Earnings (numerator)
Net income attributable to common stockholders	$	38,060	$	30,908	$	106,060	$	74,502

Shares (denominator)
Weighted average common shares outstanding (basic)		50,998		50,115		50,687		49,713
Dilutive effect of stock options and stock awards outstanding		871		962		1,012		1,170
Adjusted weighted average common shares outstanding (diluted)		51,869		51,077		51,699		50,883

Earnings per share attributable to common stockholders
Basic	$	0.75	$	0.62	$	2.09	$	1.50
Diluted	$	0.73	$	0.61	$	2.05	$	1.46

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		3		-		107		94