Earnings Per Share

3 Months Ended

Mar. 31, 2019

15.	Earnings Per Share

The following is a reconciliation of the numerator and denominator of basic and diluted earnings per share for the three months ended March 31, 2019 and 2018:

(In thousands except per share data)	Three Months Ended March 31,
	2019		2018
Numerator:
Net income	$	4,214	$	21,336

Denominator:
Shares used for basic income per share		42,745		39,783
Effect of dilutive stock options and restricted stock units outstanding:
Non-qualified stock options		127		312
Restricted stock awards		16		—
Restricted stock units		292		405
Performance stock units		3		—
Market stock units		—		533
Warrants related to Cash Convertible Notes		—		2,556
Shares used for diluted income per share		43,183		43,589

Earnings per share:
Basic	$	0.10	$	0.54
Diluted	$	0.10	$	0.49

Dilutive securities outstanding not included in the computation of earnings per share because their effect is anti-dilutive:
Non-qualified stock options		80		—
Restricted stock units		56		14

(1)	Figures may not add due to rounding.

Market stock units outstanding are considered contingently issuable shares, and certain of these stock units were excluded from the calculations of diluted earnings per share for all periods presented as the performance criteria had not been met as of the end of the reporting periods.