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NET INCOME (LOSS) PER COMMON SHARE
 3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2013
Earnings Per Share [Abstract]    
NET INCOME (LOSS) PER COMMON SHARE
The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three months ended June 30, 2013 and 2012 (in thousands, except for share and per share data):
 
 
2013
 
2012
Numerator:
 
 
 
 
Net income
 
$
15,382

 
$
10,964

Denominator:
 
 
 
 
Weighted average common shares outstanding - Basic
 
45,859,286

 
45,953,312

Effect of dilutive shares:
 
 
 
 
Common stock equivalents arising from stock options, warrants and ESPP
 
498,802

 
663,419

Restricted stock awards and units and performance units
 
138,032

 
240,578

 
 
 
 
 
Weighted average common shares outstanding - Diluted
 
46,496,120

 
46,857,309

Net income per common share:
 
 
 
 
Basic
 
$
0.34

 
$
0.24

Diluted
 
$
0.33

 
$
0.23



For the three months ended June 30, 2013 and 2012, the combined effects of unvested restricted stock awards and restricted stock units of 242,891 and 48,366, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive
NET INCOME PER COMMON SHARE

Basic net income per common share is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period excluding unvested restricted stock awards, restricted stock units and performance units.  Diluted net income per common share reflects the potential dilution from the exercise or conversion of securities into common stock, the effect of unvested restricted stock awards, restricted stock units and performance units, and the impact of shares to be issued under the ESPP.

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three months ended June 30, 2013 and 2012 (in thousands, except for share and per share data):
 
 
2013
 
2012
Numerator:
 
 
 
 
Net income
 
$
15,382

 
$
10,964

Denominator:
 
 
 
 
Weighted average common shares outstanding - Basic
 
45,859,286

 
45,953,312

Effect of dilutive shares:
 
 
 
 
Common stock equivalents arising from stock options, warrants and ESPP
 
498,802

 
663,419

Restricted stock awards and units and performance units
 
138,032

 
240,578

 
 
 
 
 
Weighted average common shares outstanding - Diluted
 
46,496,120

 
46,857,309

Net income per common share:
 
 
 
 
Basic
 
$
0.34

 
$
0.24

Diluted
 
$
0.33

 
$
0.23



For the three months ended June 30, 2013 and 2012, the combined effects of unvested restricted stock awards and restricted stock units of 242,891 and 48,366, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive, or for performance units, as the units would not be issued if the end of the reporting period was the end of the performance period.





The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the six months ended June 30, 2013 and 2012 (in thousands, except for share and per share data):
 
 
2013
 
2012
Numerator:
 
 
 
 
Net income
 
$
10,624

 
$
9,743

Denominator:
 
 
 
 
Weighted average common shares outstanding - Basic
 
45,841,446

 
45,871,166

Effect of dilutive shares:
 
 
 
 
Common stock equivalents arising from stock options, warrants and ESPP
 
503,908

 
726,359

Restricted stock awards and units and performance units
 
178,186

 
299,373

 
 
 
 
 
Weighted average common shares outstanding - Diluted
 
46,523,540

 
46,896,898

Net income per common share:
 
 
 
 
Basic
 
$
0.23

 
$
0.21

Diluted
 
$
0.23

 
$
0.21


For the six months ended June 30, 2013 and 2012, the combined effects of unvested restricted stock awards, restricted stock units and performance units of 227,088 and 189,552, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive, or for performance units, as the units would not be issued if the end of the reporting period was the end of the performance period.