Earnings Per Share

6 Months Ended

Jun. 30, 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				Six Months Ended
(In thousands, except per share amounts)	June 30, 2017		June 30, 2016		June 30, 2017		June 30, 2016
Numerator:
Net income	$	20,896	$	5,377	$	47,928	$	20,305
Denominator:
Weighted-average shares outstanding - basic	18,140		18,007		18,098		17,986
Effect of dilutive shares	407		246		362		248
Weighted-average shares outstanding - diluted	18,547		18,253		18,460		18,234
Basic earnings per share	$	1.15	$	0.30	$	2.65	$	1.13
Diluted earnings per share	$	1.13	$	0.29	$	2.60	$	1.11

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 June 30, 2017, no shares were excluded. For the quarter ended June 30, 2016, 13,500 shares were excluded.