Net Income Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per share is computed by adjusting the weighted-average number of common shares outstanding for the effect of dilutive potential common shares outstanding during the period. Potential common shares included in the diluted calculation consist of incremental shares issuable upon the exercise of outstanding stock options calculated using the treasury stock method.

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

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2013			2012		2013			2012
Basic net income (loss) per share:
Net income (loss)	$	(19,036	)	$	3,434	$	(8,241	)	$	14,442
Weighted average common shares	15,362			15,884		15,362			15,935
Basic net income (loss) per share	$	(1.24	)	$	0.22	$	(0.54	)	$	0.91
Diluted net income (loss) per share:
Net income (loss)	$	(19,036	)	$	3,434	$	(8,241	)	$	14,442
Weighted average common shares	15,362			15,884		15,362			15,935
Effect of dilutive securities: stock options	—			38		—			106
Diluted weighted average common shares	15,362			15,922		15,362			16,041
Diluted net income (loss) per share	$	(1.24	)	$	0.22	$	(0.54	)	$	0.90

For the three and nine months ended September 30, 2013, options to purchase 475,000 shares of common stock were not included in the computation of diluted net loss per share because the effect would have been anti-dilutive. For the three and nine months ended September 30,2012, options to purchase 100,000 shares of common stock were not included in the computation of diluted net income per share because the effect would have been anti-dilutive.