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Net Income Per Share (Tables)
6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
The computations of basic and diluted net income per share are set forth as follows:
 
 
 
Three Months Ended June 30,
 
 
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
(in thousands, except per share data)
 
Numerator:
 
 
 
 
 
 
 
Net income attributable to common stockholders
 
$
12,167
 
$
13,663
 
Net income allocated to participating securities
 
 
(11)
 
 
(16)
 
Numerator for basic net income per share
 
 
12,156
 
 
13,647
 
Dividends on Series A Preferred Stock
 
 
-
 
 
1,750
 
Dividends on Series B Preferred Stock
 
 
1,102
 
 
-
 
Numerator for diluted net income per share
 
$
13,258
 
$
15,397
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Denominator for basic net income per share - weighted average outstanding common shares
 
 
86,793
 
 
76,900
 
Dilutive effect of stock options
 
 
9
 
 
-
 
Dilutive effect of contingently issuable shares
 
 
27
 
 
28
 
Dilutive effect of Series A Preferred Stock
 
 
-
 
 
10,602
 
Dilutive effect of Series B Preferred Stock
 
 
8,824
 
 
-
 
Denominator for diluted net income per share
 
 
95,653
 
 
87,530
 
 
 
 
 
 
 
 
 
Net income per share attributable to common stockholders - basic
 
$
0.14
 
$
0.18
 
Net income per share attributable to common stockholders - diluted
 
$
0.14
 
$
0.18
 
 
For the three months ended June 30, 2014, warrants to purchase 0.3 million shares of common stock and options to purchase 4.3 million shares of common stock were not included in the computation of diluted net income per share as the effect would be anti-dilutive. In addition, 10.6 million shares of Series A Preferred Stock, which represent the weighted-average number of shares of common stock calculated using the as-if converted method, were also excluded from the calculation of diluted net income per share, as the effect would be anti-dilutive. For the three months ended June 30, 2014, 1.4 million unvested RSUs were excluded from the computation of basic and diluted net income per share.
 
For the three months ended June 30, 2013, warrants to purchase 0.3 million shares of common stock and options to purchase 5.1 million shares of common stock were not included in the computation of diluted net income per share as the effect would be anti-dilutive. Additionally, for the three months ended June 30, 2013, 1.0 million unvested RSUs were excluded from the computation of basic and diluted net income per share.
 
 
 
Six Months Ended June 30,
 
 
 
2014
 
2013
 
 
 
 
 
 
 
 
 
 
 
(in thousands, except per share data)
 
Numerator:
 
 
 
 
 
 
 
Net income attributable to common stockholders
 
$
26,960
 
$
26,847
 
Net income allocated to participating securities
 
 
(30)
 
 
(37)
 
Numerator for basic net income per share
 
 
26,930
 
 
26,810
 
Dividends on Series A Preferred Stock
 
 
-
 
 
3,500
 
Dividends on Series B Preferred Stock
 
 
1,102
 
 
-
 
Numerator for diluted net income per share
 
$
28,032
 
$
30,310
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
Denominator for basic net income per share - weighted average outstanding common shares
 
 
81,964
 
 
76,834
 
Dilutive effect of stock options
 
 
4
 
 
-
 
Dilutive effect of contingently issuable shares
 
 
40
 
 
41
 
Dilutive effect of Series A Preferred Stock
 
 
-
 
 
10,602
 
Dilutive effect of Series B Preferred Stock
 
 
4,436
 
 
-
 
Denominator for diluted net income per share
 
 
86,444
 
 
87,477
 
 
 
 
 
 
 
 
 
Net income attributable to common stockholders per share - basic
 
$
0.33
 
$
0.35
 
Net income attributable to common stockholders per share - diluted
 
$
0.32
 
$
0.35