EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2014

EARNINGS PER SHARE

17. EARNINGS PER SHARE

Basic earnings per share is computed using the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted-average number of common shares outstanding during the period, plus the dilutive effect of outstanding options, warrants, and RSUs, 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, warrants 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.

	Year Ended December 31,
(in thousands, except per share amounts)	2014		2013		2012
Basic (1)
Net income	$	33,255	$	38,043	$	21,868
Weighted-average common shares outstanding		76,327		75,946		75,706
Earnings per share, basic	$	0.44	$	0.50	$	0.29
Diluted (1)
Net income	$	33,255	$	38,043	$	21,868
Weighted-average common shares outstanding		76,327		75,946		75,706
Weighted-average effect of dilutive securities:
Stock options and warrants		1,698		1,626		1,554
RSUs		506		402		458
Effect of assumed exercise of stock options, warrants and RSUs		2,204		2,028		2,012
Weighted-average common shares outstanding, assuming dilution		78,531		77,974		77,718
Earnings per share, diluted	$	0.42	$	0.49	$	0.28
Outstanding options, warrants and RSUs excluded as impact would be antidilutive		98		226		124

(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. See Note 1 “Basis of Presentation” (d) for further discussion of the Stock Split.