Net Income Per Share:

6 Months Ended

Jun. 30, 2021

Net Income Per Share

Basic earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period plus dilutive securities. Dilutive securities include outstanding common stock options and unvested restricted stock units, less the number of shares that could have been purchased with the proceeds from the exercise of the options, using the treasury stock method. Options and restricted stock units that are anti-dilutive are not included in the treasury stock method calculation. There were 12,107 and 57,091 anti-dilutive securities for the three months ended June 30, 2021 and 2020, respectively. There were 12,080 and 15,045 anti-dilutive securities for the six months ended June 30, 2021 and 2020, respectively.

The following table presents the calculation of net earnings per common share (“EPS”) — basic and diluted (in thousands, except per share data):


	Three months ended June 30,				Six months ended June 30,
	2021		2020		2021		2020
Net income	$	28,398	$	18,908	$	52,129	$	35,742
Weighted-average number of common shares outstanding (for basic calculation)	21,200		20,880		21,176		20,831
Dilutive securities	503		626		542		714
Weighted-average common and common equivalent shares outstanding (for diluted calculation)	21,703		21,506		21,718		21,545
EPS — basic	$	1.34	$	0.91	$	2.46	$	1.72
EPS — diluted	$	1.31	$	0.88	$	2.40	$	1.66