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3. Income per share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Income per share

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

		Three Months Ended June 30,								Six Months Ended June 30,
		2018				2017				2018				2017
		(in thousands, except per share amounts)
Net income		$	8,797			$	10,026			$	17,285			$	19,976
Weighted average basic shares outstanding			1,852				1,844				1,853				1,839
Add: Effect of dilutive securities			5				14				3				17
Weighted average diluted shares outstanding			1,857				1,858				1,856				1,856
Earnings per share:
Basic		$	4.75			$	5.44			$	9.33			$	10.86
Diluted		$	4.74			$	5.40			$	9.31			$	10.76

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 1,200 and 1,027 shares of common stock for the quarters ended June 30, 2018 and 2017, respectively, were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.