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NET INCOME PER SHARE
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
8.            NET INCOME PER SHARE
 
Per share results have been computed based on the average number of common shares outstanding.  The computation of basic and diluted net income per share is determined using net income applicable to common stockholders as the numerator and the number of shares included in the denominator as follows (in thousands, except per share amounts):
 
 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
 
 
2013
 
2012
 
2013
 
2012
 
Basic net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
16,236
 
$
18,441
 
$
36,106
 
$
25,447
 
Undistributed earnings allocated to participating securities
 
 
(117)
 
 
(166)
 
 
(293)
 
 
(218)
 
Net income applicable to common stockholders excluding
    amounts applicable to participating securities
 
$
16,119
 
$
18,275
 
$
35,813
 
$
25,229
 
Weighted average common shares outstanding
 
 
68,487
 
 
68,357
 
 
68,442
 
 
68,308
 
Basic net income per share
 
$
0.24
 
$
0.27
 
$
0.52
 
$
0.37
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Diluted net income per share:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
16,236
 
$
18,441
 
$
36,106
 
$
25,447
 
Undistributed earnings allocated to participating securities
 
 
(117)
 
 
(166)
 
 
(293)
 
 
(218)
 
Net income applicable to common stockholders excluding
    amounts applicable to participating securities
 
$
16,119
 
$
18,275
 
$
35,813
 
$
25,229
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
68,487
 
 
68,357
 
 
68,442
 
 
68,308
 
Dilutive stock options and restricted stock
 
 
524
 
 
159
 
 
458
 
 
234
 
Diluted weighted average common shares outstanding
 
 
69,011
 
 
68,516
 
 
68,900
 
 
68,542
 
Diluted net income per share
 
$
0.23
 
$
0.27
 
$
0.52
 
$
0.37
 
 
Average diluted shares outstanding for the three and nine month periods ended September 30, 2013 and 2012 exclude options to purchase common shares totaling 1,018 and 1,808, respectively, and 1,301 and 1,648, respectively, because the exercise prices were greater than the average market price of the common shares.   In addition, the calculation of diluted net income per share excludes the impact of the Company’s Notes as the average stock price of the Company’s common stock was below the initial conversion price of approximately $11.70 per share for the quarter ended September 30, 2013.  The Notes may have a dilutive impact if the average market price of the Company’s common stock is above the conversion price of the Notes.