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Computation of Net Earnings per Share
 9 Months Ended
Sep. 30, 2016
Computation of Net Earnings per Share  
Computation of Net Earnings per Share

Note 5.  Computation of Net Earnings per Share

 

Basic earnings per share is computed by dividing income available to common stockholders (the numerator) by the weighted‑average number of common shares outstanding (the denominator) for the period. The computation of diluted earnings per share is similar to basic earnings per share, except that the denominator is increased by the number of additional common shares that would have been outstanding if the potentially dilutive common shares issuable for stock options, restricted stock units and employee stock purchase plan accounts had been issued, calculated using the treasury stock method. The earnings per share amounts presented within our financial statements and related notes and the related basic and diluted weighted average share amounts stated below have been revised to reflect the 1-for-4 reserve stock split described in Note 3 above.

 

The components of net earnings per share are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  September 30,

 

Nine months ended September 30,

 

 

    

2016

    

2015

    

2016

    

2015

    

 

 

(in thousands, except per share data)

 

Net income available to common stockholders

 

$
2,151

 

$
6,101

 

$
7,036

 

$
13,852

 

Weighted average common shares outstanding used in computing basic earnings per share

 

 
29,221

 

 
28,700

 

 
29,118

 

 
28,480

 

Incremental options and RSUs

 

 
1,816

 

 
1,766

 

 
1,642

 

 
1,675

 

Weighted average common shares outstanding used in computing diluted net earnings per share

 

 
31,037

 

 
30,466

 

 
30,760

 

 
30,155

 

Net earnings per share

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$
0.07

 

$
0.21

 

$
0.24

 

$
0.49

 

Diluted

 

$
0.07

 

$
0.20

 

$
0.23

 

$
0.46

 

 

Diluted weighted average common shares outstanding does not include options and restricted stock units outstanding to purchase 0.9 million and 0.9 million common equivalent shares for the three month periods ended September 30, 2016 and 2015, respectively, and does not include options and restricted stock units outstanding to purchase 0.9 million and 1.0 million common equivalent shares for the nine month periods ended September 30, 2016 and 2015, respectively, as their effect would have been anti-dilutive.