Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.19.3
Earnings per Share (Tables)
9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

The computation of EPS is as follows:

 

 

 

Three months ended

September 30,

 

 

Nine months ended

September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Numerator—basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

6,863

 

 

$

16,432

 

 

$

22,325

 

 

$

41,800

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares - basic common stock (1)

 

 

21,840,473

 

 

 

21,324,256

 

 

 

21,802,468

 

 

 

21,175,286

 

Weighted-average common shares - diluted common stock

 

 

22,191,688

 

 

 

22,659,052

 

 

 

22,387,146

 

 

 

22,512,125

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share - basic common stock

 

$

0.31

 

 

$

0.77

 

 

$

1.02

 

 

$

1.97

 

Net income per share - diluted common stock

 

$

0.31

 

 

$

0.73

 

 

$

1.00

 

 

$

1.86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator calculation from basic to diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares - basic common stock (1)

 

 

21,840,473

 

 

 

21,324,256

 

 

 

21,802,468

 

 

 

21,175,286

 

Stock options and other dilutive awards

 

 

351,215

 

 

 

1,334,796

 

 

 

584,678

 

 

 

1,336,839

 

Weighted-average common shares - diluted common stock

 

 

22,191,688

 

 

 

22,659,052

 

 

 

22,387,146

 

 

 

22,512,125

 

Shares excluded from diluted weighted-average shares:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

82,380

 

 

 

 

 

 

 

 

 

 

Restricted stock units and restricted stock awards

 

 

233,045

 

 

 

24,579

 

 

 

235,002

 

 

 

28,737

 

Shares excluded from diluted weighted-average shares

 

 

315,425

 

 

 

24,579

 

 

 

235,002

 

 

 

28,737

 

 

(1)

Unvested restricted stock units and restricted stock awards are not included as shares outstanding in the calculation of basic earnings per share. Vested restricted stock units and restricted stock awards are included in basic earnings per share if all vesting and performance criteria have been met. Performance-based restricted stock units and restricted stock awards are included in the number of shares used to calculate diluted earnings per share as long as all applicable performance criteria are met, and their effect is dilutive. Restricted stock awards are eligible to receive all dividends declared on the Company’s common shares during the vesting period; however, such dividends are not paid until the restrictions lapse.