Basic and Diluted Net Income per Share

6 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

Basic and Diluted Net Income per Share

Basic and Diluted Net Income per Share

The Company’s basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.

The numerators and denominators used in computing basic and diluted net income per common share for the three and six months ended June 30, 2016 and 2015 can be reconciled as follows (dollars in thousands, except per share data):

	Three months ended    June 30,				Six months ended    June 30,
	2016		2015		2016		2015
Net income	$	4,824	$	4,795	$	6,764	$	9,913
Weighted-average shares outstanding - basic	71,945,089		71,689,313		71,914,417		71,681,341
Dilutive securities	287,747		38,068		615,069		108,091
Weighted-average shares outstanding - diluted	72,232,836		71,727,381		72,529,486		71,789,432
Common stock equivalent shares excluded due to antidilutive effect	3,348,537		3,367,931		3,348,537		3,367,931
Basic and diluted:
Net income per common share	$	0.07	$	0.07	$	0.09	$	0.14
Net income per common share (diluted)	$	0.07	$	0.07	$	0.09	$	0.14