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NET INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE
NET INCOME (LOSS) PER COMMON SHARE

Basic net income (loss) per common share is computed by dividing net income (loss) 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 (loss) 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 (loss) and the shares used in calculating basic and diluted net income (loss) per common share for the three months ended September 30, 2013 and 2012 (in thousands, except for share and per share data):
 
 
2013
 
2012
Numerator:
 
 
 
 
Net income (loss)
 
$
5,542

 
$
(5,468
)
Denominator:
 
 
 
 
Weighted average common shares outstanding - Basic
 
45,912,512

 
46,006,290

Effect of dilutive shares:
 
 
 
 
Common stock equivalents arising from stock options, warrants and ESPP
 
494,536

 
—

Restricted stock awards and units and performance units
 
187,795

 
—

 
 
 
 
 
Weighted average common shares outstanding - Diluted
 
46,594,843

 
46,006,290

Net income (loss) per common share:
 
 
 
 
Basic
 
$
0.12

 
$
(0.12
)
Diluted
 
$
0.12

 
$
(0.12
)


For the three months ended September 30, 2013 and 2012, the combined effects of unvested restricted stock awards and restricted stock units and outstanding stock options of 111,993 and 1,447,301, respectively, and the impact of shares to be issued under the ESPP for the three months ended September 30, 2012, which was minor, 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 nine months ended September 30, 2013 and 2012 (in thousands, except for share and per share data):
 
 
2013
 
2012
Numerator:
 
 
 
 
Net income
 
$
16,166

 
$
4,275

Denominator:
 
 
 
 
Weighted average common shares outstanding - Basic
 
45,865,395

 
45,916,536

Effect of dilutive shares:
 
 
 
 
Common stock equivalents arising from stock options, warrants and ESPP
 
500,749

 
701,351

Restricted stock awards and units and performance units
 
181,424

 
294,670

 
 
 
 
 
Weighted average common shares outstanding - Diluted
 
46,547,568

 
46,912,557

Net income per common share:
 
 
 
 
Basic
 
$
0.35

 
$
0.09

Diluted
 
$
0.35

 
$
0.09



For the nine months ended September 30, 2013, the combined effects of unvested restricted stock awards, restricted stock units and performance units of 188,302 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.