Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.10.0.1
Net Income Per Share
 9 Months Ended
Sep. 30, 2018
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
 
Basic net income per common share (“Basic EPS”), is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share.

Following is a reconciliation of the numerator and denominator of Basic EPS to the numerator and denominator of Diluted EPS for the three and nine months ended September 30, 2018 and 2017 (dollar and share amounts in thousands, except for per share information): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2018
 
2017
 
2018
 
2017
Net income attributable to common shareholders
$
1,497

 
$
2,443

 
$
2,062

 
$
4,416

 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
19,164

 
18,897

 
19,094

 
18,873

 
 
 
 
 
 
 
 
Basic earnings per share attributable to common shareholders
$
0.08

 
$
0.13

 
$
0.11

 
$
0.23

 
 
 
 
 
 
 
 
Diluted shares outstanding:
 

 
 

 
 

 
 

Basic weighted-average shares outstanding
19,164

 
18,897

 
19,094

 
18,873

Stock-based awards
218

 
389

 
312

 
392

Diluted weighted-average shares outstanding
19,382

 
19,286

 
19,406

 
19,265

 
 
 
 
 
 
 
 
Diluted earnings per share attributable to common shareholders
$
0.08

 
$
0.13

 
$
0.11

 
$
0.23

 
 
 
 
 
 
 
 
Dilutive shares excluded from diluted-per-share amounts:
 

 
 

 
 

 
 

Stock options
105

 
294

 
105

 
294

 
 
 
 
 
 
 
 
Anti-dilutive shares excluded from diluted-per-share amounts:
 

 
 

 
 

 
 

Stock options
1,036

 
1,309

 
1,011

 
1,309



Potentially dilutive shares excluded from diluted-per-share amounts include performance-based options to purchase shares of common stock for which certain earnings metrics have not been achieved. Potentially anti-dilutive shares excluded from diluted-per-share amounts include both non-qualified stock options and unearned performance-based options to purchase shares of common stock with exercise prices greater than the weighted-average share price during the period and shares that would be anti-dilutive to the computation of diluted net income per share for each of the periods presented.