Stockholders' Equity

6 Months Ended

Jun. 30, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchases

During the three months ended June 30, 2016 the Company repurchased and retired shares totaling $1.4 million under the $20.0 million repurchase authorization, approved by the Board of Directors of the Company in April 2013. On May 23, 2016, the Board of Directors of the Company authorized an additional $20.0 million repurchase of the Company's common stock from time to time on the open market or in privately negotiated transactions. Such authorization is in addition to the amount remaining under the Company's previously authorized share repurchase program. As of June 30, 2016, $28.1 million is remaining under the Company's authorized stock repurchase programs.

Earnings per Share

The calculation of diluted earnings per share excludes a weighted average number of stock options and restricted stock of 686,765 and 74,181, for the three months ended June 30, 2016 and 533,251 and 4,066, for the six months ended June 30, 2016, because to include them would be antidilutive. There were no weighted average ESPP shares excluded from the three and six months ended June 30, 2016 as there was no dilutive impact.

The calculation of diluted earnings per share excludes a weighted average number of stock options of 239,814 for the three months ended June 30, 2015, because to include them would be antidilutive. There were no weighted average ESPP shares excluded from the three months ended June 30, 2015 as there was no dilutive impact. Stock options, restricted stock, and ESPP shares of 194,907, 28,694, and 525, were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2015 because to include them would be antidilutive.

Stockholders' Equity

During the three and six months ended June 30, 2016, a total number of 52,512 and 343,039 shares of restricted common stock vested, respectively.