Earnings Per Share

6 Months Ended

Jun. 30, 2020

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 month ended June 30, 2020 and 2019 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,
	2020		2019		2020		2019
Earnings (numerator)
Net income attributable to common stockholders	$	21,033	$	36,284	$	41,201	$	68,000

Shares (denominator)
Weighted average common shares outstanding (basic)		51,527		50,658		51,431		50,529
Dilutive effect of stock options and stock awards outstanding		1,042		962		1,086		1,037
Adjusted weighted average common shares outstanding (diluted)		52,569		51,620		52,517		51,566

Earnings per share attributable to common stockholders
Basic	$	0.41	$	0.72	$	0.80	$	1.35
Diluted	$	0.40	$	0.70	$	0.78	$	1.32

Stock options and stock awards excluded from EPS calculation because the effect would be anti-dilutive		8		131		3		95