Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.19.1
Net Income Per Share
3 Months Ended
Mar. 31, 2019
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 months ended March 31, 2019 and 2018 (dollar and share amounts in thousands, except for per share information): 
 
Three Months Ended
March 31,
 
2019
 
2018
Net income attributable to common shareholders:
$
1,757

 
$
498

 
 
 
 
Basic weighted average shares outstanding
19,268

 
19,010

 
 
 
 
Basic earnings per share attributable to common shareholders:
$
0.09

 
$
0.03

 
 
 
 
Diluted shares outstanding
 

 
 

Basic weighted-average shares outstanding
19,268

 
19,010

Stock-based awards
317

 
343

Diluted weighted-average shares outstanding
19,585

 
19,353

 
 
 
 
Diluted earnings per share attributable to common shareholders:
$
0.09

 
$
0.03

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

 
 

Stock-based awards
511

 
155

 
 
 
 
Potentially anti-dilutive shares excluded from diluted-per-share amounts:
 

 
 

Stock-based awards
1,032

 
1,148


 
Potentially dilutive shares excluded from diluted-per-share amounts include performance-based options to purchase shares of common stock for which certain performance measures 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.