Basic and Diluted Net Income per Share

3 Months Ended

Mar. 31, 2017

The Company’s basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.

The numerators and denominators used in computing basic and diluted net income per common share for the three months ended March 31, 2017 and 2016 can be reconciled as follows (dollars in thousands, except per share data):



	Three months ended March 31,
	2017		2016
Net income	$	6,762	$	1,940

Weighted-average shares outstanding - basic	75,059,838		71,883,745
Dilutive securities	882,770		269,191
Weighted-average shares outstanding - diluted	75,942,608		72,152,936
Common stock equivalent shares excluded due to antidilutive effect	—		3,361,524

Basic and diluted:
Net income per common share	$	0.09	$	0.03
Net income per common share (diluted)	$	0.09	$	0.03