NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2013

NET INCOME PER SHARE

NET INCOME PER SHARE

3. NET INCOME PER SHARE

        Basic net income per share for the three months ended March 31, 2012 and 2013 is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per common share is computed using the "if converted method" with the weighted average number of common shares outstanding plus the effect of outstanding stock options calculated using the "treasury stock" method. The number of shares excluded from the diluted net income per common share computation, because their effect was antidilutive, was 4,233,472 and 3,229,904 for the three months ended March 31, 2012 and 2013, respectively.

        The components of basic and diluted net income per share were as follows:

	Three months ended March 31,
	2012		2013
Net income attributable to CTC Media, Inc. stockholders	$	32,622	$	28,588
Weighted average common shares outstanding—basic
Common stock		157,495,591		158,160,719
Dilutive effect of:
Common stock options		309,893		10,070
Weighted average common shares outstanding—diluted		157,805,484		158,170,789
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.21	$	0.18
Diluted	$	0.21	$	0.18

        The numerator used to calculate diluted net income per common share for the three months ended March 31, 2012 and 2013 was net income attributable to CTC Media, Inc. stockholders.