3. Income per share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Income per share

The following is the computation for basic and diluted income per share:

	Three Months Ended March 31,
	2017		2016
	(in thousands, except per share amounts)
Net income	$	9,950	$	6,945
Weighted average basic shares outstanding		1,835		1,823
Add: Effect of dilutive securities		20		34
Weighted average diluted shares outstanding		1,855		1,857
Earnings per share:
Basic	$	5.42	$	3.81
Diluted	$	5.36	$	3.74

Incremental shares from stock options and restricted stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. Dilutive securities representing 1,027 shares of common stock for the quarter ended March 31, 2017 were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive. No shares were excluded for the quarter ended March 31, 2016.