Net Income Per Share

12 Months Ended

Dec. 31, 2013

20)

Net Income Per Share

Basic earnings per share (“EPS”), is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding during the period. The computation of diluted EPS is similar to the computation of basic EPS except that the denominator is increased to include the number of additional common shares that would have been outstanding (using the treasury stock method), if securities containing potentially dilutive common shares (stock options and restricted stock units) had been converted to such common shares, and if such assumed conversion is dilutive.

The following is a reconciliation of basic to diluted net income per share:


	Years Ended December 31,
	2013		2012		2011
Numerator:
Net income	$	35,776	$	48,029	$	129,731

Denominator:
Shares used in net income per common share — basic		53,061,000		52,686,000		52,169,000
Effect of dilutive securities:
Stock options, restricted stock and employee stock purchase plan		420,000		548,000		678,000

Shares used in net income per common share — diluted		53,481,000		53,234,000		52,847,000

Net income per common share:
Basic	$	0.67	$	0.91	$	2.49
Diluted	$	0.67	$	0.90	$	2.45

As of December 31, 2013, 2012 and 2011, stock options and restricted stock units relating to an aggregate of approximately 868,000, 1,198,000 and 1,536,000 shares, respectively, were outstanding. In 2013, 2012 and 2011, the potential dilutive effect of 83,000, 204,000 and 259,000 weighted average shares, respectively, of stock options were excluded from the computation of diluted weighted-average shares outstanding as the shares would have an anti-dilutive effect on EPS.

- Definition

The entire disclosure for earnings per share.

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