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Net Income per Common Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Net Income Per Common Share

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

 

 

(In Thousands, Except Per Share Amounts)

 

Numerator:

 

 

 

 

 

 

Net income

 

$

5,623

 

 

$

15,901

 

Numerator for basic and diluted net
  income per common share

 

$

5,623

 

 

$

15,901

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Denominator for basic net income per
   common share - adjusted weighted-average
   shares (1)

 

 

72,842

 

 

 

75,807

 

Effect of dilutive securities:

 

 

 

 

 

 

Unvested restricted stock and stock units

 

 

331

 

 

 

504

 

Dilutive potential common shares

 

 

331

 

 

 

504

 

Denominator for diluted net income per
   common share - adjusted weighted-average
   shares

 

 

73,173

 

 

 

76,311

 

 

 

 

 

 

 

 

Basic net income per common share

 

$

0.08

 

 

$

0.21

 

 

 

 

 

 

 

 

Diluted net income per common share

 

$

0.08

 

 

$

0.21

 

_____________________________

(1)
All periods exclude the weighted-average shares of unvested restricted stock that are contingently issuable.
Antidilutive Securities Excluded from Computation of Diluted Net Income Per Common Share

The following weighted-average shares of securities were not included in the computation of diluted net income per common share as their effect would have been antidilutive:

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

Restricted stock and stock units

 

 

714,563

 

 

 

395,301

 

Stock options

 

 

13,000

 

 

 

13,000

 

 

 

727,563

 

 

 

408,301