Note 10 - Net Income Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

10.   NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock, and calculated using the treasury stock method.

Beginning in June 2014, the Company’s outstanding RSU awards contain forfeitable rights to receive cash dividend equivalents, which are accrued quarterly during the vesting periods of the RSUs and payable to the employees when the awards vest. Dividend equivalents accrued on outstanding RSUs are forfeited if the employees do not fulfill their service requirement during the vesting periods. Accordingly, these awards are not treated as participating securities in the net income per share calculation.

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Year Ended December 31,
	2014		2013		2012
Numerator:
Net income	$	35,495	$	22,898	$	15,756
Denominator:
Weighted-average outstanding shares used to compute basic net income per share		38,686		37,387		34,871
Effect of dilutive securities		1,107		1,233		1,376
Weighted-average outstanding shares used to compute diluted net income per share		39,793		38,620		36,247
Net income per share:
Basic	$	0.92	$	0.61	$	0.45
Diluted	$	0.89	$	0.59	$	0.43

For the year ended December 31, 2014, there were no anti-dilutive common stock equivalents. For the years ended December 31, 2013 and 2012, approximately 2,000 and 1.1 million weighted-average common stock equivalents, respectively, were excluded from the calculation of diluted net income per share because their inclusion would have been anti-dilutive.