Net Income Per Share

12 Months Ended

Dec. 31, 2015

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, 2015, 2014 and 2013 are as follows (in thousands, except per share data):



	Year Ended
	December 31, 2015		December 31, 2014		December 31, 2013
Numerator:
Net income	$	48,584	$	8,788	$	55,217

Denominator:
Weighted average common shares - basic	33,161		35,771		38,379
Potentially dilutive common share equivalent	627		674		569
Weighted average common shares - dilutive	33,788		36,445		38,948

Basic net income per share	$	1.47	$	0.25	$	1.44
Diluted net income per share	$	1.44	$	0.24	$	1.42

Anti-dilutive employee stock-based awards, excluded	1,807		2,617		2,846