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NET INCOME PER SHARE
 12 Months Ended
Dec. 31, 2013
NET INCOME PER SHARE  
NET INCOME PER SHARE

NOTE 11: NET INCOME PER SHARE

        Basic net income per share is computed on the basis of weighted average outstanding common shares. We have determined that certain nonvested share awards (also referred to as restricted stock awards) issued by the Company are participating securities because they have non-forfeitable rights to dividends. Accordingly, basic net income per share is calculated under the two-class method calculation.

        Diluted net income per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect, if any, of outstanding stock options. The numerator of the diluted net income per share calculation is decreased by the allocation of net income and dividends declared to nonvested shares, if the net impact is dilutive.

        In determining diluted earnings per share, we use the more dilutive earnings per share result between two-class method calculation and the treasury stock method calculation applied to our outstanding nonvested share awards.

        The computation of basic and diluted net income per share for the years ended December 31, 2013 and 2012 is as follows:

 
   Year Ended December 31, 2013   Year Ended December 31, 2012  
 
   Net Income
(Numerator)		   Weighted
Average
Common
Shares
Outstanding
(Denominator)		   Per Share
Amount		   Net Income
(Numerator)		   Weighted
Average
Common
Shares
Outstanding
(Denominator)		   Per Share
Amount		  
 
   (in thousands, except per share data)
  

Net income

   $ 11,110               $ 22,427              

Less: amounts allocated to nonvested shares

     (113 )               (268 )            
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Basic net income available to common stockholders

     10,997     35,434   $ 0.31     22,159     35,497   $ 0.62  
                                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                                   

Effect of dilutive securities:

                                      

Stock options

     —     868           —     876        

Add back: amounts allocated to nonvested shares

     113     —           268     —        

Less: amounts re-allocated to nonvested shares

     (113 )   —           (268 )   —        
                               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Diluted net income available to common stockholders

   $ 10,997     36,302   $ 0.30   $ 22,159     36,373   $ 0.61  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

        The computation of basic and diluted net income per share for the year ended December 31, 2011 is as follows:

 
   Year ended December 31, 2011  
 
   Net Income
(Numerator)		   Weighted
Average
Common
Shares
Outstanding
(Denominator)		   Per Share
Amount		  
 
   (in thousands, except per share data)
  

Net income

   $ 12,080              

Less: amounts allocated to nonvested shares

     (139 )            
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Basic net income available to common stockholders

     11,941     35,186   $ 0.34  
                   
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                   

Effect of dilutive securities:

                    

Stock options

     —     1,320        

Add-back: amounts allocated to nonvested shares

     139     —        

Less: amounts re-allocated to nonvested shares

     (139 )   —        
                 
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Diluted net income available to common stockholders

   $ 11,941     36,506   $ 0.33  
               
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
               

        For the years ended December 31, 2013, 2012, and 2011 weighted-average outstanding stock options totaling approximately 2.0 million, 3.1 million, and 2.3 million, shares of common stock, respectively, were antidilutive and therefore not included in the computation of diluted net income per share.