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Stockholders' Equity
 6 Months Ended
Jun. 30, 2014
Stockholders' Equity  
Stockholders' Equity

9. Stockholders' Equity

  • Earnings Per Share

        Basic earnings per share ("EPS") is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed considering the dilutive effect of stock options, contingently issuable restricted stock and restricted stock units.

        There were no anti-dilutive stock options for the six months ended June 30, 2014. There were approximately 0.2 million anti-dilutive stock options excluded from the calculation of diluted EPS for the three months ended June 30, 2014. There were approximately 0.3 million and 0.4 million of anti-dilutive stock options excluded from the calculation of diluted EPS for the three and six months ended June 30, 2013, respectively.

        The following table reconciles the number of shares outstanding with the number of shares used in computing basic and diluted earnings per share for each of the periods presented (in thousands):

 
   Three Months Ended
June 30,		   Six Months Ended
June 30,		  
 
   2014   2013   2014   2013  

Common shares outstanding, end of period(a)

     37,748     37,257     37,748     37,257  

Effect of using weighted average common shares outstanding

     (42 )   (67 )   (104 )   (129 )
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Shares used in computing earnings per share—basic

     37,706     37,190     37,644     37,128  

Effect of shares issuable under stock option plans based on the treasury stock method

     144     121     165     107  

Effect of contingently issuable restricted shares

     30     54     105     114  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Shares used in computing earnings per share—diluted

     37,880     37,365     37,914     37,349  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   
(a)
Excludes 0.1 million shares of unvested contingently issuable restricted stock outstanding as of June 30, 2013.

  • Share Repurchase Program

        On March 29, 2007, our Board of Directors (the "Board") approved a stock repurchase program to acquire up to 1.0 million shares of our outstanding common stock. Subsequently, the Board has from time to time approved extensions of the program to acquire additional shares. Since the inception of the repurchase program, the Board has approved 6.6 million shares to be repurchased.

        The share repurchases will be made from time to time at our discretion in the open market or privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. The Board may modify, suspend, extend or terminate the program at any time. During the six months ended June 30, 2014, we repurchased less than 0.1 million shares for approximately $0.5 million at an average price of $16.29 per share. Since the inception of the program in 2007 and as of June 30, 2014, we have repurchased a cumulative total of 6.0 million shares at an average price of $11.03 per share.