Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The computations of basic and diluted EPS are set forth below:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2013		2012		2013		2012
	(in thousands, except per share  amounts, unaudited)
Numerator for basic and diluted EPS — net income allocated to common stockholders	$	15,487	$	2,242	$	29,104	$	18,376
Denominator for basic EPS — weighted average number of shares	29,912		30,508		30,131		30,650
Add — dilutive effect of:
Weighted average number of incremental shares issuable from restricted stock units	8		5		40		6
Denominator for diluted EPS — weighted average number of shares and dilutive potential shares	29,920		30,513		30,171		30,656
Earnings per share:
Basic	$	0.52	$	0.07	$	0.97	$	0.60
Diluted	$	0.52	$	0.07	$	0.96	$	0.60

The weighted number of shares and dilutive potential shares for the three and six month periods ended June 30, 2013 include the conversion of the first tranche of 659,926 shares of Performance Stock to common stock. The weighted number of shares for the three and six month periods ended June 30, 2012 do not include the dilutive effect of the first tranche of Performance Stock since the revenue target was not achieved at that time. The weighted number of shares and dilutive potential shares for the three and six month periods ended June 30, 2013 and 2012 do not include the Performance Stock related to the second tranche, which will be included in the Company's share count at the time the revenue target is met. If the revenue target for the second tranche is not achieved, the contingent convertible preferred shares in that tranche will be canceled.