Net Income Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

Basic net income per share is computed by dividing the net income for the period by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing the net income for the period by the weighted average number of shares of common stock and potentially dilutive common stock outstanding during the period. Potentially dilutive common shares include outstanding stock options and unvested restricted stock awards, which are reflected in diluted net income per share by application of the treasury stock method. Under the treasury stock method, the amount that the employee must pay for exercising stock options, the amount of stock-based compensation cost for future services that the Company has not yet recognized, and the estimated tax benefit that would be recorded in additional paid-in capital upon exercise are assumed to be used to repurchase shares.

Net income per share for the years ended December 31, 2014, 2013 and 2012 are as follows (in thousands, except per share data):

	Year Ended
	December 31, 2014		December 31, 2013		December 31, 2012
Numerator:
Net income	$	8,788	$	55,217	$	86,539
Denominator:
Weighted average common shares - basic	35,771		38,379		38,057
Potentially dilutive common share equivalent	674		569		690
Weighted average common shares - dilutive	36,445		38,948		38,747
Basic net income per share	$	0.25	$	1.44	$	2.27
Diluted net income per share	$	0.24	$	1.42	$	2.23
Anti-dilutive employee stock-based awards, excluded	2,617		2,846		2,611