Net Income Per Common Share

3 Months Ended

Mar. 31, 2017

Net Income Per Common Share

Net Income Per Common Share

Note 4 — Net Income Per Common Share

Basic net income per common share (“Basic EPS”) excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share. During the three months ended March 31, 2017 and 2016, options to acquire zero shares and 6,000 shares, respectively, were excluded from the computation of Diluted EPS as their impact was anti-dilutive.

The calculation of the weighted average number of shares of common stock outstanding for Basic EPS and Diluted EPS for the periods indicated (in thousands, except per share data) is as follows:

	Three Months Ended
	March 31,
	2017		2016
Numerator:
Net Income	$	34,786	$	27,092
Denominator:
Weighted average number of common shares outstanding		51,820		51,218
Effect of outstanding share-based awards		1,382		796
Weighted average number of shares for diluted net income per common share		53,202		52,014
Basic earnings per-share	$	0.67	$	0.53
Diluted earnings per-share	$	0.65	$	0.52