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D. EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2017
Net income per share  
EARNINGS PER SHARE

NOTE D—EARNINGS PER SHARE

 

Basic net income per share has been computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share has been computed using the weighted-average number of shares of common stock and dilutive potential common shares from options, restricted stock units and warrants outstanding during the period. In periods with net losses, normally dilutive shares become anti-dilutive. Therefore, basic and dilutive earnings per share are the same.

 

The following table presents the computation of the basic and diluted net income per share for the periods indicated (in thousands, except per share amounts):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

    

2017

    

2016

    

2015

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

Net income

 

$

73,951

 

$

31,234

 

$

10,793

 

Denominator:

 

 

 

 

 

 

 

 

 

  

Weighted average shares used to compute net income per share

 

 

 

 

 

 

 

 

 

  

Basic

 

 

 19,097

 

 

17,202

 

 

15,627

  

Effective of dilutive options and restricted stock units

 

 

1,042

 

 

511

 

 

906

  

Diluted

 

 

20,139

 

 

17,713

 

 

16,533

  

Net income per share

 

 

 

 

 

 

 

 

 

  

Basic

 

$

3.87

 

$

1.82

 

$

0.69

 

Diluted

 

$

3.67

 

$

1.76

 

$

0.65