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Earnings Per Share
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

(7) Earnings Per Share

 

The following table details the reconciliation of basic earnings per share to diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

June 30,

 

June 30,

 

 

2013

 

2012

 

2013

 

2012

Numerator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$
9,047 

 

$
7,105 

 

$
17,540 

 

$
12,786 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average basic common shares outstanding

 

 
31,617 

 

 
30,171 

 

 
31,670 

 

 
30,175 

Assumed conversion of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 
2,673 

 

 
2,598 

 

 
2,609 

 

 
2,557 

Denominator for diluted earnings per share - Adjusted weighted-average shares

 

 
34,290 

 

 
32,769 

 

 
34,279 

 

 
32,732 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.29 

 

$
0.24 

 

$
0.55 

 

$
0.42 

Diluted

 

$
0.26 

 

$
0.22 

 

$
0.51 

 

$
0.39 

 

 

For the three and six months ended June 30, 2013, stock options representing the right to purchase common stock of approximately 890,000 shares and 920,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.  For the three and six months ended June 30, 2012, stock options representing the right to purchase common stock of approximately 470,000 shares and 451,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.