Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following presents a reconciliation of the numerator and denominator used in the calculation of basic and diluted net income per share (in thousands, except share and per share data):

	Three Months Ended June  30,						Six Months Ended June  30,
	2013			2012			2013			2012
Numerator:
Net income, as reported	$	7,311		$	7,415		$	15,927		$	13,135
Less: net income attributable to participating securities		(129	)		(129	)		(269	)		(214	)
Net income available to common shareholders—basic	$	7,182		$	7,286		$	15,658		$	12,921
Denominator:
Basic:
Weighted-average shares of common stock outstanding		38,420,617			36,689,475			38,070,822			36,764,611
Less: weighted-average shares of unvested restricted common stock outstanding		(695,535	)		(642,750	)		(655,308	)		(600,044	)
Weighted-average number of common shares used in computing basic net income per common share		37,725,082			36,046,725			37,415,514			36,164,567
Net income per share applicable to common shareholders—basic	$	0.19		$	0.20		$	0.42		$	0.36

	Three Months Ended June  30,			Six Months Ended June  30,
	2013			2013
Numerator:
Net income available to common shareholders—basic	$	7,182		$	15,658
Add-back: undistributed earnings allocated to unvested shareholders		91			195
Less: undistributed earnings reallocated to unvested shareholders		(88	)		(188	)
Net income available to common shareholders—diluted	$	7,185		$	15,665
Denominator:
Diluted:
Weighted-average shares of common stock outstanding		38,420,617			38,070,822
Less: weighted-average shares of unvested restricted common stock outstanding		(695,535	)		(655,308	)
Weighted-average number of common shares issuable upon exercise of outstanding stock options, based on the treasury stock method		1,304,571			1,343,293
Weighted-average number of common shares used in computing diluted net income per common share		39,029,653			38,758,807
Net income per share applicable to common shareholders—diluted	$	0.18		$	0.40

	Three Months Ended June  30,			Six Months Ended June  30,
	2012			2012
Numerator:
Net income, as reported	$	7,415		$	13,135
Less: net income attributable to participating securities		(129	)		(214	)
Net income available to common shareholders—diluted	$	7,286		$	12,921
Denominator:
Diluted:
Weighted-average shares of common stock outstanding		36,689,475			36,764,611
Less: weighted-average shares of unvested restricted common stock outstanding		(642,750	)		(600,044	)
Weighted-average number of common shares issuable upon exercise of outstanding stock options, based on the treasury stock method		1,263,738			1,294,178
Weighted-average number of restricted stock, based on the treasury stock method		113,069			131,212
Weighted-average number of common shares used in computing diluted net income per common share		37,423,532			37,589,957
Net income per share applicable to common shareholders—diluted	$	0.19		$	0.34

Schedule of Anti-Dilutive Securities Excluded from Computation of Earnings Per Share

The following common share equivalents have been excluded from the computation of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive:

	Three Months Ended June  30,				Six Months Ended June  30,
	2013		2012		2013		2012
Options		441,924		1,941,448		316,393		1,758,482
Unvested restricted stock		89		3,521		33,752		2,792