Earnings per Share

6 Months Ended

Jun. 30, 2015

10. EARNINGS PER SHARE

A summary of the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014 is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
*(In thousands, except per share amounts)*	2015		2014		2015		2014
Numerator
Net income	$	2,544	$	14,395	$	5,861	$	24,002

Denominator
Weighted average number of shares – basic		51,822		55,409		52,607		56,077
Effect of dilutive securities
Stock options		72		288		122		459
Restricted stock and restricted stock units		23		32		13		23

Weighted average number of shares – diluted		51,917		55,729		52,742		56,559

Net income per share – basic	$	0.05	$	0.26	$	0.11	$	0.43
Net income per share – diluted	$	0.05	$	0.26	$	0.11	$	0.42

Anti-dilutive options to purchase common stock outstanding were excluded from the above calculations. Anti-dilutive options totaled 6.1 million and 4.3 million for the three months ended June 30, 2015 and 2014, respectively, and 5.7 million and 3.1 million for the six months ended June 30, 2015 and 2014, respectively.