Net Income per Common Share

3 Months Ended

Mar. 31, 2013

Net Income per Common Share

Note 3 — Net Income per Common Share

Basic net income per share is computed based on the weighted-average number of common shares outstanding. Diluted net income per share is computed based on the weighted-average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan.

The table below sets forth the computation of basic and diluted net income per share:

	Three Months Ended
	March 31,
(in thousands, except share and per share amounts)	2013		2012
Net income	$	8,287	$	4,782
Basic—weighted-average shares outstanding:		25,014,907		20,934,948
Effect of dilutive securities:
Employee stock options, warrants and other		630,837		1,291,408
Diluted—weighted-average shares outstanding:		25,645,744		22,226,356
Net income per share:
Basic	$	0.33	$	0.23
Diluted	$	0.32	$	0.22