Net Income Per Share

6 Months Ended

Jun. 30, 2015

14)	Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Numerator:
Net income	$	33,220	$	21,224	$	67,006	$	52,469

Denominator:
Shares used in net income per common share – basic		53,384,000		53,361,000		53,299,000		53,386,000
Effect of dilutive securities:
Stock options, restricted stock and employee stock purchase plan		205,000		176,000		260,000		271,000

Shares used in net income per common share – diluted		53,589,000		53,537,000		53,559,000		53,657,000

Net income per common share:
Basic	$	0.62	$	0.40	$	1.26	$	0.98
Diluted	$	0.62	$	0.40	$	1.25	$	0.98

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.

As of June 30, 2015, stock options and restricted stock units related to an aggregate of approximately 772,000 shares were outstanding. For the three and six months ended June 30, 2015, there were no weighted-average shares of restricted stock units and stock options that were excluded from the computation of diluted weighted-average shares outstanding that would have an anti-dilutive effect on EPS.

As of June 30, 2014, stock options and restricted stock units relating to an aggregate of approximately 830,000 shares were outstanding. For the three and six months ended June 30, 2014, the potential dilutive effect of approximately 90 and 800 weighted-average shares, respectively, of restricted stock units and stock options were excluded from the computation of diluted weighted-average shares outstanding as the shares would have an anti-dilutive effect on EPS.