Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.8.0.1
Earnings Per Share
9 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share

10.  EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. For the calculation of diluted shares, we assume that restricted stock is outstanding on the date of vesting, and we assume the issuance of shares from the exercise of stock options using the treasury stock method.

A reconciliation from basic to diluted shares follows:   





 

 

 

 

 

 

 

 



 

Three Months Ended September 30,

 

Nine Months Ended September 30,



 

2017

 

2016

 

2017

 

2016



 

(in thousands)

Basic weighted average shares outstanding

 

58,817 

 

58,708 

 

58,682 

 

58,600 

Effect of dilutive securities

 

 —

 

 —

 

 

 —

Diluted weighted average shares outstanding

 

58,817 

 

58,708 

 

58,686 

 

58,600 

Stock options and unvested restricted stock grants excluded from dilutive calculation because they would be anti-dilutive

 

3,007 

 

4,098 

 

2,799 

 

4,455