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C. EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2016
Net income per share  
Earnings Per Share

NOTE C—EARNINGS PER SHARE

 

Basic net income per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options, restricted stock units and warrants outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and dilutive earnings per share are the same.

 

The following table presents the calculation of basic and diluted EPS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

    

2016

    

2015

    

2014

 

 

 

(in thousands, except per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

Net income

 

$
31,234

 

$
10,793

 

$
4,283

 

Denominator:

 

 

 

 

 

 

 

 

 

  

Weighted average shares used to compute net income per share

 

 

 

 

 

 

 

 

 

  

Basic

 

 
17,202

 

 
15,627

 

 
14,307

  

Effective of dilutive options, restricted stock units and warrants

 

 
511

 

 
906

 

 
880

  

Diluted

 

 
17,713

 

 
16,533

 

 
15,187

  

Net income per share

 

 

 

 

 

 

 

 

 

  

Basic

 

$
1.82

 

$
0.69

 

$
0.30

 

Diluted

 

$
1.76

 

$
0.65

 

$
0.28