| Earnings Per Share |
9. Earnings Per Share The following table sets out earnings per share of common stock: | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | | 2022 | | 2021 | | 2022 | | 2021 | | | | (in thousands, except shares and per share data) | | (in thousands, except shares and per share data) | Net income | | $ | 4,286 | | $ | 246 | | $ | 33,411 | | $ | 29,215 | Weighted average common shares outstanding: | | | | | | | | | | | | | Basic | | | 25,209,368 | | | 25,388,630 | | | 25,258,333 | | | 25,473,006 | Common Share equivalents | | | 578,257 | | | 655,050 | | | 550,054 | | | 660,658 | Diluted | | | 25,787,625 | | | 26,043,680 | | | 25,808,387 | | | 26,133,664 | | | | | | | | | | | | | | Earnings per share: | | | | | | | | | | | | | Basic | | $ | 0.17 | | $ | 0.01 | | $ | 1.32 | | $ | 1.15 | Diluted | | $ | 0.17 | | $ | 0.01 | | $ | 1.29 | | $ | 1.12 |
Common share equivalents relate primarily to outstanding stock options, RSUs and PSUs under the 2019 Plan and unpurchased shares under the 2019 ESPP and are calculated using the treasury stock method.
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