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Basis of Presentation (Tables)
3 Months Ended
Mar. 31, 2014
Basis of Presentation  
Reconciliation of basic earnings per common share to diluted earnings per share

 

 

 

Three Months Ended March 31,

 

(in thousands, except per share amounts)

 

2014

 

2013

 

Net income available to common stockholders

 

$

12,087

 

$

4,795

 

Basic weighted-average shares outstanding

 

48,899

 

48,536

 

Dilutive effect of potential common stock equivalents — stock options

 

166

 

90

 

Diluted weighted-average shares outstanding

 

49,065

 

48,626

 

Earnings per common share:

 

 

 

 

 

Basic

 

$

0.25

 

$

0.10

 

Diluted

 

0.25

 

0.10

 

Potentially dilutive securities excluded from earnings per diluted share because their effect is anti-dilutive

 

 

 

Schedule of stock option and restricted stock unit activity of the entity

 

 

 

Three Months Ended March 31,

 

(in thousands)

 

2014

 

2013

 

Stock-based compensation expense recognized in operating expenses

 

$

2,476

 

$

2,879

 

Tax benefit of stock-based compensation expense in provision for income taxes

 

910

 

1,048

 

Stock-based compensation expense, net of tax

 

$

1,566

 

$

1,831

 

Fair value of shares vested

 

$

2,379

 

$

2,813

 

Proceeds to the Company from the exercise of stock-based compensation

 

$

1,769

 

$

496

 

Tax effect from exercise of stock-based compensation, including shortfall tax benefits

 

$

(135

)

$

(1,843

)

 

 

 

At March 31,

 

(in thousands)

 

2014

 

2013

 

Stock-based compensation cost capitalized in inventory

 

$

459

 

$

361

 

Summary of financial instruments

 

 

 

At March 31,

 

At December 31

 

(in thousands)

 

2014

 

2013

 

2013

 

Financial instruments

 

$

99,235

 

$

59,074

 

$

117,571

 

Schedule of effective tax rates and income tax expense

 

 

 

Three Months Ended March 31,

 

(in thousands, except percentages)

 

2014

 

2013

 

Effective tax rate

 

38.6

%

47.0

%

Provision for income taxes

 

$

7,604

 

$

4,256