Basic earnings per share (“basic EPS”) is computed by dividing net income by the weighted average number of common shares outstanding for the reporting period. Diluted earnings per share (“diluted EPS”) gives effect to all dilutive potential shares.

The following tables set forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
	2026		2025

Net income	$	13,828	$	6,036

Basic weighted average shares outstanding	30,588		30,973

Stock-based awards	33		178





Diluted weighted average shares outstanding	30,621		31,151

Net income (per share)
Basic	$	0.45	$	0.19
Diluted	0.45		0.19

The shares used in the calculation of diluted EPS exclude stock options, stock appreciation rights, restricted stock units, and performance share units to purchase shares where the exercise price was greater than the average market price of common shares for the period and the effect of the inclusion would be anti-dilutive. Such shares aggregated approximately 4.3 million for the three months ended March 31, 2026 and 3.4 million for the three months ended March 31, 2025.