Earnings Per Share

9 Months Ended

Sep. 30, 2017

NOTE 3. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed assuming conversion of all potentially dilutive securities including the dilutive effect of stock options, unvested restricted stock awards and other potentially dilutive securities. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2017		2016		2017		2016
Weighted-average number of shares of common stock for calculating basic earnings per share		24,015		23,911		23,984		23,891
Effect of potentially dilutive securities from equity-based compensation		213		130		217		66
Weighted-average number of shares of common stock for calculating diluted earnings per share		24,228		24,041		24,201		23,957

The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2017		2016		2017		2016
Options to purchase shares of common stock		14		636		14		998