Earnings Per Share

6 Months Ended

Jun. 30, 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				Six Months Ended
(In thousands, except per share amounts)	June 30, 2016		June 30, 2015		June 30, 2016		June 30, 2015
Numerator:
Net income	$	5,377	$	13,554	$	20,305	$	27,197
Denominator:
Weighted-average shares outstanding - basic	18,007		18,627		17,986		18,551
Effect of dilutive shares	246		429		248		452
Weighted-average shares outstanding - diluted	18,253		19,056		18,234		19,003
Basic earnings per share	$	0.30	$	0.73	$	1.13	$	1.47
Diluted earnings per share	$	0.29	$	0.71	$	1.11	$	1.43

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 June 30, 2016, 13,500 shares were excluded. For the quarter ended June 30, 2015, no shares were excluded.