Earnings Per Share

3 Months Ended

Mar. 31, 2016

The following table sets forth the computation of basic and diluted earnings per share, for the periods indicated:



(In thousands, except per share amounts)	Quarter Ended
(In thousands, except per share amounts)	March 31, 2016		March 31, 2015
Numerator:
Net income	$	14,928	$	13,643
Denominator:
Weighted-average shares outstanding - basic	17,966		18,476
Effect of dilutive shares	248		474
Weighted-average shares outstanding - diluted	18,214		18,950
Basic earnings per share	$	0.83	$	0.74
Diluted earnings per share	$	0.82	$	0.72

Certain potential options to purchase shares were excluded from the calculation of diluted weighted-average shares outstanding because the exercise price was greater than the average market price of our capital stock during the year. For the quarter ended March 31, 2016, 51,275 shares were excluded. For the quarter ended March 31, 2015, no shares were excluded.