Net Income Per Share

3 Months Ended

Mar. 31, 2016

Basic net income per common share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income per common share is computed using the weighted-average number of common and dilutive common equivalent shares from stock options, restricted stock, and warrants using the treasury stock method.

The following table sets forth the computation of basic and diluted net income per share (in thousands except share data):



	Three Months Ended March 31,
	2016		2015
Net income	$	1,197	$	4,087
Denominator for basic earnings per share - weighted average shares	105,538,271		105,820,335
Effect of dilutive securities: Stock options, restricted stock, and warrants outstanding(a)	6,501,589		7,818,216
Denominator for diluted earnings per share - weighted average shares adjusted for dilutive securities	112,039,860		113,638,551
Income per common share - basic	$	0.01	$	0.04
Income per common share - diluted	$	0.01	$	0.04

(a) Securities outstanding that are included in the computation above, utilizing the treasury stock method are as follows:



	Three Months Ended March 31,
	2016	2015
Outstanding Stock Options	5,981,250	7,392,355
Outstanding Warrants	—	42,400
Restricted Stock Awards	520,339	383,461
	6,501,589	7,818,216