Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.21.2
Net Income Per Share
 6 Months Ended
Jun. 30, 2021
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 six months ended June 30, 2021 and 2020 (dollar and share amounts in thousands, except for per share information):
  Three Months Ended
June 30,		 Six Months Ended
June 30,
  2021 2020 2021 2020
Net income attributable to common shareholders $ 6,540  $ 5,754  $ 10,556  $ 8,716 
Basic weighted average shares outstanding 19,999  19,491  19,897  19,472 
Basic earnings per share attributable to common shareholders $ 0.33  $ 0.30  $ 0.53  $ 0.45 
Diluted shares outstanding:        
Basic weighted-average shares outstanding 19,999  19,491  19,897  19,472 
Stock-based awards 504  292  443  253 
Diluted weighted-average shares outstanding 20,503  19,783  20,340  19,725 
Diluted earnings per share attributable to common shareholders $ 0.32  $ 0.29  $ 0.52  $ 0.44 
Dilutive shares excluded from diluted-per-share amounts:        
Stock options 563  844  563  844 
Anti-dilutive shares excluded from diluted-per-share amounts:        
Stock options —  264  —  239 

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.