Net Income Per Share

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Net Income Per Share

4. Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share data).

	Three Months Ended
	March 31,
	2015		2014
Net income	$	486	$	511
Weighted average common basic shares		41,016		40,970
Effect of dilutive securities		288		313
Weighted average common dilutive shares		41,304		41,283
Basic and diluted net income per share	$	0.01	$	0.01

For the three months ended March 31, 2015, the computation of diluted net income per share included options to purchase approximately $0.8 million shares that had a dilutive effect of 288 thousand shares. Options to purchase 0.3 million shares were not included in the computation of diluted net income per share as their exercise price was in excess of the average stock prices for the period.

On March 10, 2015, the Compensation Committee of the Board of Directors of the Company awarded 141 thousand restricted stock units to executive officers. Such restricted stock units will vest, and an equal number of shares of common stock will be deliverable upon the third anniversary of the date of grant. Compensation expense related to the units was calculated based upon the closing market price of the common stock on the date of grant ($2.44) and is recorded on a straight-line basis over the vesting period. These units were not dilutive for the three months ended March 31, 2015.

For the three months ended March 31, 2014, the computation of diluted net income per share included 7 thousand shares of unvested restricted common stock and options to purchase approximately 0.8 million shares that had a dilutive effect of 306 thousand shares. Options to purchase 0.4 million shares were not included in the computation of diluted net income per share as their exercise price was in excess of the average stock prices for the period.