Earnings Per Share

3 Months Ended

Mar. 31, 2017

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, 2017		March 31, 2016
Numerator:
Net income	$	27,032	$	14,928
Denominator:
Weighted-average shares outstanding - basic	18,056		17,966
Effect of dilutive shares	317		248
Weighted-average shares outstanding - diluted	18,373		18,214
Basic earnings per share	$	1.50	$	0.83
Diluted earnings per share	$	1.47	$	0.82

Certain potential options to purchase shares may be excluded from the calculation of diluted weighted-average shares outstanding where their exercise price is greater than the average market price of our capital stock during the relevant reporting period. For the quarter ended March 31, 2017, no shares were excluded. For the quarter ended March 31, 2016, 51,275 shares were excluded.