NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2014

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, 2013 and 2014 is computed on the basis of the weighted average number of common shares outstanding during the period. Diluted net income per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares are calculated using the "treasury stock" method and consist of shares underlying outstanding equity awards. The number of shares excluded from the diluted net income per common share computation because their effect was antidilutive, was 3,229,904 and 2,279,166 for the three months ended March 31, 2013 and 2014, respectively.

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

	Three months ended March 31,
	2013		2014
Net income attributable to CTC Media, Inc. stockholders	$	28,588	$	31,216
Weighted average common shares outstanding—basic
Common stock		158,160,719		155,710,719
Dilutive effect of:
Stock-based awards		10,070		93,212
Weighted average common shares outstanding—diluted		158,170,789		155,803,931
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$	0.18	$	0.20
Diluted	$	0.18	$	0.20

        The numerator used to calculate diluted net income per common share for the three months ended March 31, 2013 and 2014 was net income attributable to CTC Media, Inc. stockholders.