EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2014

EARNINGS PER SHARE

13.    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)	2014		2013		2014		2013
Basic (1)
Net income	$	1,882	$	8,710	$	13,151	$	22,482
Weighted-average common shares outstanding		76,351		75,910		76,312		75,900
Earnings per share, basic	$	0.02	$	0.11	$	0.17	$	0.30
Diluted (1)
Net income	$	1,882	$	8,710	$	13,151	$	22,482
Weighted-average common shares outstanding, basic		76,351		75,910		76,312		75,900
Weighted-average effect of dilutive securities:
Stock options		1,730		1,826		1,754		1,458
RSUs		572		422		465		386
Effect of assumed exercise of stock options, warrants and RSUs		2,302		2,248		2,219		1,844
Weighted-average common shares outstanding, diluted		78,653		78,158		78,531		77,744
Earnings per share, diluted	$	0.02	$	0.11	$	0.17	$	0.29
Outstanding options and RSUs excluded as impact would be antidilutive		107		66		110		292

(1) The number of common shares and per share amounts have been retroactively restated for all prior periods presented to reflect the Company’s two-for-one common stock split effected in the form of a common stock dividend distributed on April 1, 2014.