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NET INCOME PER COMMON SHARE (Tables)
 3 Months Ended
Mar. 31, 2017
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share

The following table is a reconciliation of net income and the shares used in calculating basic and diluted net income per common share for the three months ended March 31, 2017 and 2016 (in thousands, except share and per share data):

 

 

 

Three Months Ended March 31,

 

 

 

2017

 

 

2016

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

10,365

 

 

$

1,949

 

Adjustment for Basic EPS:

 

 

 

 

 

 

 

 

Earning allocated to unvested shareholders

 

 

(191

)

 

 

(32

)

Adjusted net income

 

$

10,174

 

 

$

1,917

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding – Basic

 

 

46,661,559

 

 

 

46,774,360

 

Effect of dilutive shares:

 

 

 

 

 

 

 

 

Common stock equivalents arising from stock

   options and ESPP

 

 

2,151

 

 

 

9,442

 

Restricted stock awards and units and performance

   units

 

 

79,184

 

 

 

123,756

 

Weighted average common shares

   outstanding – Diluted

 

 

46,742,894

 

 

 

46,907,558

 

Net income per common share:

 

 

 

 

 

 

 

 

Basic

 

$

0.22

 

 

$

0.04

 

Diluted

 

$

0.22

 

 

$

0.04