Earnings Per Share

6 Months Ended

Jun. 30, 2016

7. Earnings Per Share

The following is a reconciliation of the basic and diluted earnings per share computation:


	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(shares in thousands)				(shares in thousands)
Net income	$	3,651	$	24,172	$	15,723	$	36,234

Shares of common stock and common stock equivalents:
Weighted averages shares used in basic computation		136,503		135,895		137,051		134,990
Dilutive effect of common stock equivalents		771		2,056		798		2,630

Weighted averages shares used in dilutive computation		137,274		137,951		137,849		137,620

Basic earnings per share	$	0.03	$	0.18	$	0.11	$	0.27
Dilutive earnings per share	$	0.03	$	0.18	$	0.11	$	0.26

Diluted earnings per share reflects the reduction in earnings per share assuming options or other contracts to issue common stock were exercised or converted into common stock under the treasury stock method. The dilutive effect of common stock equivalents was included in the diluted earnings per share in the three and six months ended June 30, 2016 and 2015, respectively. There were no anti-dilutive common stock equivalents for the three and six months ended June 30, 2016. 84,215 and 548,000 common stock equivalents were determined to be anti-dilutive and were not included in the calculation of diluted earnings per share for the three and six months ended June 30, 2015.