Net Income Per Share

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Numerator:
Net income	$	29,769	$	29,117	$	96,775	$	81,586

Denominator:
Shares used in net income per common share – basic		53,314,000		53,054,000		53,304,000		53,276,000
Effect of dilutive securities:
Stock options, restricted stock and employee stock purchase plan		254,000		256,000		258,000		265,000

Shares used in net income per common share – diluted		53,568,000		53,310,000		53,562,000		53,541,000

Net income per common share:
Basic	$	0.56	$	0.55	$	1.82	$	1.53
Diluted	$	0.56	$	0.55	$	1.81	$	1.52

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 September 30, 2015, stock options and restricted stock units related to an aggregate of approximately 752,000 shares were outstanding. For the three and nine months ended September 30, 2015, there were no shares of restricted stock units and stock options that were excluded from the computation of diluted weighted-average shares outstanding that would have had an anti-dilutive effect on EPS.

As of September 30, 2014, stock options and restricted stock units related to an aggregate of approximately 769,000 shares were outstanding. For the three and nine months ended September 30, 2014, the potential dilutive effect of approximately 64 and 534 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 had an anti-dilutive effect on EPS.