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NET INCOME PER COMMON SHARE (Tables)
3 Months Ended
Mar. 31, 2018
Earnings Per Share [Abstract]  
Schedule of Earnings Per 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 March 31, 2018 and 2017 (in thousands, except share and per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2018

 

 

2017

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

5,959

 

 

$

10,365

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

Earning allocated to unvested shareholders

 

 

(87

)

 

 

(191

)

Adjusted net income

 

$

5,872

 

 

$

10,174

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

46,783,158

 

 

 

46,661,559

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock

   options and ESPP

 

 

837

 

 

 

2,151

 

Restricted stock awards and units and performance

   units

 

 

64,803

 

 

 

79,184

 

Weighted average common shares

   outstanding – Diluted

 

 

46,848,798

 

 

 

46,742,894

 

Net income per common share:

 

 

 

 

 

 

 

 

Basic

 

$

0.13

 

 

$

0.22

 

Diluted

 

$

0.13

 

 

$

0.22