XML 72 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 9 Months Ended
Sep. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period.  Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities.  Dilutive common shares consist primarily of stock options and restricted stock awards.
 
 
Three months ended
 
Nine months ended
 
September 30,
2014
 
September 30,
2013
 
September 30,
2014
 
September 30,
2013
 
(in thousands, except share and per share data)
Numerator:
 
 
 
 
 
 
 
Net income
$
12,440

 
$
10,522

 
$
33,625

 
$
29,781

Denominator:
 

 
 

 
 
 
 
Basic weighted average shares*
54,905,288

 
55,113,393

 
54,851,911

 
55,128,986

Effect of dilutive stock options and restricted stock*
578,755

 
412,949

 
571,383

 
433,677

Diluted weighted average shares*
55,484,043

 
55,526,342

 
55,423,294

 
55,562,663

Earnings per share:
 

 
 

 
 
 
 
Basic*
$
0.23

 
$
0.19

 
$
0.61

 
$
0.54

Diluted*
$
0.22

 
$
0.19

 
$
0.61

 
$
0.54

Anti-dilutive shares:
 

 
 

 
 
 
 
Shares*
29,132

 
37,350

 
22,676

 
266,270

 *Reflects three-for-two stock split effective July 16, 2014