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NET INCOME PER SHARE
 3 Months Ended
Mar. 31, 2014
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
March 31,
 
 
 
2014
 
2013
 
Basic net income per share:
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
7,296
 
$
5,735
 
Undistributed earnings allocated to participating securities
 
 
(61)
 
 
(51)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
7,235
 
$
5,684
 
Weighted average common shares outstanding
 
 
68,669
 
 
68,395
 
Basic net income per share
 
$
0.11
 
$
0.08
 
 
 
 
 
 
 
 
 
Diluted net income per share:
 
 
 
 
 
 
 
Net income applicable to common stockholders
 
$
7,296
 
$
5,735
 
Undistributed earnings allocated to participating securities
 
 
(61)
 
 
(51)
 
Net income applicable to common stockholders excluding amounts applicable to participating securities
 
$
7,235
 
$
5,684
 
 
 
 
 
 
 
 
 
Weighted average common shares outstanding
 
 
68,669
 
 
68,395
 
Dilutive shares from assumed conversion of convertible senior notes
 
 
1,591
 
 
-
 
Dilutive stock options and restricted stock
 
 
828
 
 
433
 
Diluted weighted average common shares outstanding
 
 
71,088
 
 
68,828
 
Diluted net income per share
 
$
0.10
 
$
0.08
 
 
Average diluted shares outstanding for the three month periods ended March 31, 2014 and 2013 exclude options to purchase common shares totaling 576 and 1,438, 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 for the quarter ended March 31, 2014 includes the impact of the Notes as the average stock price of the Company’s common stock during this period was above the initial conversion price of approximately $11.70 per share. The calculation of diluted net income per share for the quarter ended March 31, 2013 excludes the impact of the Notes as the average stock price of the Company’s common stock during this previous year period was below the initial conversion price.