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Net Income Per Share
 9 Months Ended
Sep. 30, 2012
Net Income Per Share [Abstract]  
Net Income Per Share

4. Net Income per Share 

  

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

September 30,

 

 

Nine Months Ended

September 30,

 

 

 

2012

 

 

2011

 

 

2012

 

 

2011

 

Net income

 

$
5,142 

 

 

$
3,466 

 

 

$
11,731 

 

 

$
8,026 

 

Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 
30,021 

 

 

 
27,744 

 

 

 
29,273 

 

 

 
27,679 

 

Shares used in computing basic net income per share

 

 
30,021 

 

 

 
27,744 

 

 

 
29,273 

 

 

 
27,679 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 
190 

 

 

 
228 

 

 

 
201 

 

 

 
313 

 

Warrants (1)

 

 

--

 

 

 
6 

 

 

 

--

 

 

 
7 

 

Restricted stock subject to vesting

 

 
662 

 

 

 
548 

 

 

 
619 

 

 

 
592 

 

Contingently issuable shares (2)

 

 
104 

 

 

 
467 

 

 

 
107 

 

 

 
156 

 

Shares issuable for acquisition consideration (3)

 

 
697 

 

 

 
525 

 

 

 
644 

 

 

 
307 

 

Shares used in computing diluted net income per share

 

 
31,674 

 

 

 
29,518 

 

 

 
30,844 

 

 

 
29,054 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per share

 

$
0.17 

 

 

$
0.12 

 

 

$
0.40 

 

 

$
0.29 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per share

 

$
0.16 

 

 

$
0.12 

 

 

$
0.38 

 

 

$
0.28 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive options and restricted stock not included in the calculation of diluted net income per share

 

 
14 

 

 

 
519 

 

 

 
14 

 

 

 
319 

 

 

(1)

All outstanding warrants expired on December 30, 2011. 

(2)

Represents the Company’s estimate of shares to be issued to Exervio Consulting, Inc. (“Exervio”) pursuant to the Asset Purchase Agreement. Refer to Note 7 for further discussion. 

(3)

Represents the shares held in escrow pursuant to the Agreements and Plans of Merger with speakTECH and Northridge Systems, Inc. (“Northridge”) and pursuant to the Asset Purchase Agreements with PointBridge Solutions, LLC (“PointBridge”) and Nascent Systems, LP (“Nascent”) as part of the consideration. These shares were not included in the calculation of basic net income per share due to the uncertainty of their ultimate status.