Earnings Per Share

3 Months Ended

Mar. 31, 2017

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, 2017, the weighted average number of stock options and restricted stock units excluded from the computation of diluted earnings per share were 0 and 25, respectively. For the three months ended March 31, 2016, the weighted average number of stock options and restricted stock units totaling 151 and 0, respectively, were excluded from the computation of diluted earnings per share. For the three months ended March 31, 2017, diluted earnings per share-weighted average shares outstanding included the effect resulting from assumed conversion of the warrants. For the three months ended March 31, 2016, 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 was anti-dilutive.

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



	Three Months Ended March 31,
	2017		2016
Numerator:
Net income	$	7,151	$	13,939
Denominator:
Basic earnings per share - weighted average shares outstanding	31,290		30,957
Effect of potential dilutive securities:
Employee stock options and restricted stock units - dilutive shares	762		697
Warrant - dilutive shares	6		—
Diluted earnings per share - weighted average shares outstanding	32,058		31,654
Earnings per share:
Basic	$	0.23	$	0.45
Diluted	$	0.22	$	0.44