Earnings Per Share

9 Months Ended

Sep. 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				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Numerator:
Net income	$	25,532	$	16,065	$	73,460	$	36,370
Denominator:
Weighted-average shares outstanding - basic	18,181		17,996		18,126		17,990
Effect of dilutive shares	407		187		377		227
Weighted-average shares outstanding - diluted	18,588		18,183		18,503		18,217
Basic earnings per share	$	1.40	$	0.89	$	4.05	$	2.02
Diluted earnings per share	$	1.37	$	0.88	$	3.97	$	2.00

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