Net income (loss) Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net income (loss) Per Share

Net income (loss) Per Ordinary Share

Basic net income (loss) per ordinary share is calculated by dividing net income (loss) by the weighted-average number of ordinary shares outstanding during the period. Shares used in diluted net income (loss) per ordinary share would include the dilutive effect of ordinary shares potentially issuable upon the exercise of stock options outstanding and restricted stock units. However, potentially issuable ordinary shares are not used in computing diluted net loss per ordinary share as their effect would be anti-dilutive due to the loss recorded during the three and six months ended June 30, 2013, and therefore diluted net loss per ordinary share is equal to basic net loss per ordinary share. During the three and six months ended June 30, 2014, diluted net income per ordinary share is computed by giving effect to all dilutive potential ordinary shares including options.

Net income (loss) per ordinary share was determined as follows (in thousands, except per share amounts):

	Three Months Ended June 30,					Six Months Ended  June 30,
	2014		2013			2014		2013
Numerator (basic and dilutive):
Net income (loss)	$	1,290	$	(11,302	)	$	19,142	$	(20,253	)
Denominator (basic):
Weighted-average ordinary shares outstanding	21,959		17,679			21,922		17,679
Denominator (diluted):
Weighted-average ordinary shares outstanding	21,959		17,679			21,922		17,679
Dilutive stock options outstanding	939		—			1,005		—
Net weighted average ordinary shares outstanding	22,898		17,679			22,927		17,679
Net income (loss) per share attributable to holders of ordinary shares:
Basic net income (loss) per share	$	0.06	$	(0.64	)	$	0.87	$	(1.15	)
Diluted net income (loss) per share	$	0.06	$	(0.64	)	$	0.83	$	(1.15	)

The equivalent ordinary shares not included in diluted net income (loss) per share because their effect would be anti-dilutive are as follows (in thousands):

	Three Months Ended June 30,		Six Months Ended  June 30,
	2014	2013	2014	2013
Period end stock options to purchase ordinary shares	706	1,592	550	1,343
Restricted stock units	—	—	—	—
Total	706	1,592	550	1,343