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NET INCOME PER COMMON SHARE
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
15.
NET INCOME PER COMMON SHARE:
Basic net income per common share is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period excluding unvested restricted stock awards, restricted stock units and performance units. Diluted net income per common share reflects the potential dilution from the exercise or conversion of securities into common stock, the effect of unvested restricted stock awards, restricted stock units and performance units, and the impact of shares to be issued under the ESPP.
The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three and nine months ended September 30, 2014 and 2013 (in thousands, except share and per share data):
 
 
Three Months Ended September 30,
 
Nine Months ended September 30,
 
 
2014
 
2013
 
2014
 
2013
Numerator:
 
 
 
 
 
 
 
 
Net income
 
$
4,284

 
$
5,542

 
$
28,728

 
$
16,166

Denominator:
 
 
 
 
 
 
 
 
Weighted average common shares outstanding – Basic
 
46,197,713

 
45,912,512

 
46,398,644

 
45,865,395

Effect of dilutive shares:
 
 
 
 
 
 
 
 
Common stock equivalents arising from stock options and ESPP
 
286,977

 
494,536

 
359,144

 
500,749

Restricted stock awards and units and performance units
 
149,073

 
187,795

 
198,640

 
181,424

Weighted average common shares outstanding – Diluted
 
46,633,763

 
46,594,843

 
46,956,428

 
46,547,568

Net income per common share:
 
 
 
 
 
 
 
 
Basic
 
$
0.09

 
$
0.12

 
$
0.62

 
$
0.35

Diluted
 
$
0.09

 
$
0.12

 
$
0.61

 
$
0.35


For the three months ended September 30, 2014 and 2013, the combined effects of unvested restricted stock awards, restricted stock units and performance unit awards of 48,347 and 111,993, respectively, were excluded from the calculation of diluted EPS as their impact would have been antidilutive as the units would not be issued if the end of the reporting period was the end of the performance period. For the nine months ended September 30, 2014 and 2013, the combined effects of unvested restricted stock awards, restricted stock units and performance units of 334,572 and 188,302, respectively, and the impact of shares to be issued under the ESPP, which was minor, were excluded from the calculation of diluted EPS as their impact would have been antidilutive.