Earnings Per Share

3 Months Ended

Mar. 31, 2016

Earnings (Loss) Per Share [Abstract]

Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed in the same manner and also gives effect to all dilutive common equivalent shares outstanding during the period. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive. In accordance with U.S. GAAP, these shares were not included in calculating diluted earnings per share. For the three months ended March 31, 2016, the weighted average number of stock options and restricted stock units excluded from the computation of diluted earnings per share were 151 and 0, respectively. For the three months ended March 31, 2015, all outstanding stock options and restricted stock units totaling 299 and 0, respectively, were excluded from the computation of diluted loss per share because the effect in the periods would be anti-dilutive. Diluted earnings per share-weighted average shares outstanding do not include any effect resulting from assumed conversion of the Notes and warrants as their impact would be anti-dilutive.

The Company’s basic and diluted earnings per share amounts are as follows:



	Three Months Ended March 31,
	2016		2015
Numerator:
Net income	$	13,939	$	1,848
Denominator:
Basic earnings per share - weighted average shares outstanding	30,957		31,928
Effect of potential dilutive securities:
Employee stock options and restricted stock units - dilutive shares	697		621
Diluted earnings per share - weighted average shares outstanding	31,654		32,549
Earnings per share:
Basic	$	0.45	$	0.06
Diluted	$	0.44	$	0.06