Earnings per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings per Share

8. Earnings per Share

The computational components of basic and diluted earnings per share for the three-month periods ended March 31, are below.

	2020		2019
(table only in thousands) Numerator (for basic and diluted earnings per share)
Net income	$	3,412	$	1,864
Denominator
Basic weighted-average shares outstanding		35,155		34,836
Common stock equivalents arising from stock options and restricted stock awards		240		524
Diluted weighted-average shares outstanding		35,395		35,360

Options and restricted stock units included in the computation of diluted earnings per share are calculated using the treasury stock method. For the three-month periods ended March 31, 2020 and 2019, 0.4 million and 0.5 million, respectively, of outstanding options and restricted stock units were excluded from the computation of diluted earnings per share due to their having an anti-dilutive effect.

Once a restricted stock unit vests, it is included in the computation of weighted average shares outstanding for purposes of basic and diluted earnings per share.