Net Income Per Share

12 Months Ended

Dec. 31, 2014

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,
	2014		2013		2012
Numerator:
Net income	$	115,778	$	35,776	$	48,029

Denominator:
Shares used in net income per common share — basic		53,232,000		53,061,000		52,686,000
Effect of dilutive securities:
Stock options, restricted stock and employee stock purchase plan		283,000		420,000		548,000

Shares used in net income per common share — diluted		53,515,000		53,481,000		53,234,000

Net income per common share:
Basic	$	2.17	$	0.67	$	0.91
Diluted	$	2.16	$	0.67	$	0.90

As of December 31, 2014, 2013 and 2012, stock options and restricted stock units relating to an aggregate of approximately 747,000, 868,000 and 1,198,000 shares, respectively, were outstanding. In 2014, 2013 and 2012, the potential dilutive effect of 600, 83,000 and 204,000 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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