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Earnings Per Share
 9 Months Ended
Sep. 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

 

Nine months ended

 

 

September 30,

 

September 30,

 

 

2013

 

2012

 

2013

 

2012

Numerator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$
11,049 

 

$
10,832 

 

$
28,589 

 

$
23,618 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average basic common shares outstanding

 

 
32,037 

 

 
30,387 

 

 
31,825 

 

 
30,267 

Assumed conversion of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 
2,727 

 

 
2,599 

 

 
2,649 

 

 
2,571 

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

 

 
34,764 

 

 
32,986 

 

 
34,474 

 

 
32,838 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.34 

 

$
0.36 

 

$
0.90 

 

$
0.78 

Diluted

 

$
0.32 

 

$
0.33 

 

$
0.83 

 

$
0.72 

 

 

For the three and nine months ended September 30, 2013, stock options representing the right to purchase common stock of approximately 331,000 shares and 724,000 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 nine months ended September 30, 2012, stock options representing the right to purchase common stock of approximately 427,000 shares and 443,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.