Earnings per Share

3 Months Ended

Mar. 31, 2019

Earnings per Share

Net income is divided by the weighted average number of common shares outstanding during the period to calculate basic earnings per share. Diluted earnings per share is calculated to give effect to stock options and RSUs. The following table summarizes the dilutive effect of RSUs and options to purchase common stock for the three months ended March 31, 2019 and 2018:



	Three months ended March 31,
	2019	2018
Weighted average common shares—basic	45,578,815	45,779,966
Dilutive effect of restricted stock units	333,020	358,583
Dilutive effect of stock options	80,347	90,788
Weighted average common shares—diluted	45,992,182	46,229,337

In February 2019, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $75 million in the aggregate. The previous authorization, approved in November 2015, authorized up to $50 million in share repurchases. In the three months ended March 31, 2019, the Company purchased 24,900 of its outstanding common stock for approximately $0.7 million. The Company did not purchase any shares of its outstanding common stock in the three months ended March 31, 2018.