EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE [Text Block]

EARNINGS PER SHARE:

Basic earnings per share are calculated by dividing net income by the weighted-average shares of common stock outstanding during the period. Diluted earnings per share are calculated by dividing net income by the weighted-average shares of common stock and dilutive common equivalent shares outstanding during the period. Dilutive common equivalent shares included in this calculation consist of dilutive shares issuable upon the assumed exercise of outstanding common stock options, the assumed vesting of outstanding restricted stock units and performance based awards, and the assumed issuance of awards under the stock purchase plan, as computed using the treasury stock method. Basic and diluted loss per share is calculated by dividing the net loss by the weighted-average shares of common stock outstanding during the period.

A summary of the earnings (loss) per share calculation is as follows (in thousands, except per share amounts):

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2013		2012			2013		2012
Basic earnings per share:
Net income (loss)	$	13,672	$	(7,176	)	$	24,575	$	285
Weighted-average common shares	29,178		28,619			28,967		28,423
Basic earnings (loss) per share	$	0.47	$	(0.25	)	$	0.85	$	0.01
Diluted earnings per share (1):
Net income (loss)	$	13,672	$	(7,176	)	$	24,575	$	285
Weighted-average common shares	29,178		28,619			28,967		28,423
Effect of dilutive securities:
Employee stock plans	980		—			1,010		1,201
Diluted weighted-average common shares	30,158		28,619			29,977		29,624
Diluted earnings (loss) per share	$	0.45	$	(0.25	)	$	0.82	$	0.01

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(1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the 2013 and 2012 awards in the 2013 and 2012 calculation, respectively, as those shares were not contingently issuable as of the end of the period. 

In the three and six months ended June 30, 2013, 167,862 shares and 166,042 shares, respectively, and in the six months ended June 30, 2012, 306,586 shares were not included in the computation of diluted earnings per share for the periods then ended because they were determined to be anti-dilutive. In the three months ended June 30, 2012, all shares attributable to stock-based awards were excluded in the computation of diluted earnings per share, as the Company was in a net loss position.