Net Income per Share

6 Months Ended

Jun. 30, 2017

Earnings Per Share [Abstract]

Net Income per Share

7. Net Income per Share

Basic earnings per share is based on the weighted average number of shares of common stock outstanding, and diluted earnings per share is based on the weighted average number of shares of common stock outstanding and all potentially dilutive common stock equivalents outstanding. Common stock equivalents are included in the per share calculations when the effect of their inclusion is dilutive.

The following is a reconciliation of basic to diluted net income per share:

	Quarter Ended				Year to Date Ended
	June 30, 2017		June 30, 2016		June 30, 2017		June 30, 2016
Net income	$	15,384	$	9,349	$	25,710	$	18,159
Shares used in net income per common share - basic		28,978		25,699		28,873		25,699
Dilutive effect of the equity premium on Convertible Notes at the average price of common stock		—		232		—		9
Incremental shares of unvested restricted common stock		136		37		169		85
Shares used in net income per common share - diluted		29,114		25,968		29,042		25,793
Basic net income	$	0.53	$	0.36	$	0.89	$	0.71
Diluted net income	$	0.53	$	0.36	$	0.89	$	0.70