NET INCOME (LOSS) PER COMMON SHARE

3 Months Ended

Mar. 31, 2015



16.	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 March 31, 2015 and 2014 (in thousands, except share and per share data):



	Three Months Ended March 31,
	2015		2014
Numerator:
Net income	$	1,314	$	4,022
Denominator:
Weighted average common shares outstanding – Basic	45,785,725		46,177,661
Effect of dilutive shares:
Common stock equivalents arising from stock options and ESPP	163,779		275,392
Restricted stock awards and units and performance units	264,743		198,385
Weighted average common shares outstanding – Diluted	46,214,247		46,651,438
Net income per common share:
Basic	$	0.03	$	0.09
Diluted	$	0.03	$	0.09

For the three months ended March 31, 2015, the combined effects of certain unvested restricted stock units and performance unit awards of 37,132 were excluded from the calculation of diluted EPS as their impact would have been antidilutive. For the three months ended March 31, 2014, the effects of certain performance award units of 53,890 were excluded from the calculation of diluted EPS as their impact would have been antidilutive as the units would not have been issued if the end of the reporting period was the end of the performance period.

- Definition

The entire disclosure for earnings per share.

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