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Earnings Per Share
 12 Months Ended
Dec. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

8. Earnings Per Share

Earnings per share is computed in accordance with ASC 260, Earnings per Share. Basic earnings per share is computed on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted earnings per share (in thousands):

 

     Years Ended December 31,  
     2013      2012      2011  

Weighted average share outstanding:

         

Basic weighted average shares outstanding

      39,295         38,696         33,457   

Add: Dilutive effect of stock options, restricted stock awards and other dilutive securities

      723         1,209         738   
  

 

 

     

 

 

     

 

 

  

Diluted weighted average shares outstanding

      40,018         39,905         34,195   
  

 

 

     

 

 

     

 

 

  

For the years ended December 31, 2013, 2012, and 2011, respectively, 1.5 million, 1.7 million and 3.3 million options to purchase shares, contingently issuable shares, and common stock warrants were excluded from the diluted net income per share computation as their effect would be anti-dilutive.

Common stock outstanding as of December 31, 2013 and 2012 was 38,854,989 and 39,447,773, respectively.