Note 5 - Net Income per Common Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Note 5 – 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, restricted stock units and restricted stock awards 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 June 30,				Six Months Ended June 30,
(in thousands, except share and per share amounts)	2014		2013		2014		2013
Net income	$	10,956	$	8,611	$	21,058	$	16,898
Basic - weighted-average shares outstanding:		25,620,005		25,258,932		25,597,055		25,030,283
Effect of dilutive securities:
Employee stock options and other		526,843		591,315		535,210		597,099
Diluted - weighted-average shares outstanding:		26,146,848		25,850,247		26,132,265		25,627,382
Net income per share:
Basic	$	0.43	$	0.34	$	0.82	$	0.68
Diluted	$	0.42	$	0.33	$	0.81	$	0.66