SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of accumulated other comprehensive loss

The components of accumulated other comprehensive loss were as follows (in thousands):



	September 30, 2017			December 31, 2016
Foreign currency translation adjustment	$	(8,759	)	$	(12,191	)
Accumulated net unrealized loss on investments, net of tax	(848		)	(848		)
Total accumulated other comprehensive loss	$	(9,607	)	$	(13,039	)

Calculation of basic and diluted net income (loss) per share

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



	Three Months Ended September 30,				Nine Months Ended September 30,
Numerator:	2017		2016		2017		2016
Numerator:
Net income	$	34,177	$	23,201	$	78,491	$	55,498
Denominator:
Denominator for basic net income per share — weighted-average outstanding shares	32,444		32,186		32,375		32,152
Effect of dilutive securities:
Stock options and restricted stock	370		254		330		271
Denominator for diluted net income per share — weighted-average outstanding shares	32,814		32,440		32,705		32,423

Net income per share — basic	$	1.05	$	0.72	$	2.42	$	1.73
Net income per share — diluted	$	1.04	$	0.72	$	2.40	$	1.71

Schedule of anti-dilutive securities excluded from computation of earnings per share

The following table summarizes the shares underlying the performance-based restricted stock awards and service-based restricted stock units excluded from the basic and diluted calculation (in thousands):



	Three Months Ended September 30,		Nine Months Ended September 30,
	2017	2016	2017	2016
Performance-based restricted stock awards	85	72	85	72
Service-based restricted stock units	1	1	1	1
Total shares excluded from computation	86	73	86	73

Stock-based compensation expense for stock options and restricted stock

Stock-based compensation expense for stock options, restricted stock, restricted stock units issued under equity incentive plans and stock purchases under the ESPP included in the Company’s results of operations were as follows (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2017		2016		2017		2016
Cost of revenues	$	1,201	$	1,396	$	3,711	$	4,209
Selling and marketing	1,862		1,676		5,401		4,920
Software development	1,665		1,684		5,315		4,902
General and administrative	5,015		4,555		14,776		12,950
Total stock-based compensation	$	9,743	$	9,311	$	29,203	$	26,981