Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share

10.   EARNINGS PER SHARE

Basic earnings per share is computed using the weighted-average number of common shares outstanding during the applicable period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the applicable period, plus the dilutive effect of outstanding options, RSUs, and warrants, using the treasury stock method and the average market price of the Company’s common stock during the applicable period. Certain shares related to some of the Company’s outstanding stock options and RSUs were excluded from the computation of diluted earnings per share because they were antidilutive in the periods presented, but could be dilutive in the future.

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2013		2012		2013		2012
Basic
Net income (loss)	$	8,710	$	(331)	$	22,482	$	1,459
Weighted-average common shares outstanding		37,955		37,881		37,950		37,834
Earnings (loss) per share, basic	$	0.23	$	(0.01)	$	0.59	$	0.04
Diluted
Net income (loss)	$	8,710	$	(331)	$	22,482	$	1,459
Weighted-average common shares outstanding, basic		37,955		37,881		37,950		37,834
Weighted-average effect of dilutive securities:
Stock options and warrants		913		—		729		817
RSUs		211		—		193		246
Effect of assumed exercise of stock options, warrants and RSUs		1,124		—		922		1,063
Weighted-average common shares outstanding, diluted		39,079		37,881		38,872		38,897
Earnings (loss) per share, diluted	$	0.22	$	(0.01)	$	0.58	$	0.04
Outstanding options and RSUs excluded as impact would be antidilutive		33		1,865		146		55