Basic and Diluted Net Income per Share

9 Months Ended

Sep. 30, 2016

Earnings Per Share [Abstract]

Basic and Diluted Net Income per Share

Basic and Diluted Net Income per Share

The Company’s basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. The Company’s diluted net income per share is computed by dividing net income by the weighted-average number of common shares outstanding plus any incremental shares arising from the dilutive effect of stock-based compensation.

The numerators and denominators used in computing basic and diluted net income per common share for the three and nine months ended September 30, 2016 and 2015 can be reconciled as follows (dollars in thousands, except per share data):

	Three months ended    September 30,				Nine months ended    September 30,
	2016		2015		2016		2015
Net income	$	4,089	$	5,099	$	10,853	$	15,012
Weighted-average shares outstanding - basic	74,001,997		71,868,045		72,532,961		71,743,576
Dilutive securities	167,268		101,323		1,342,762		105,835
Weighted-average shares outstanding - diluted	74,169,265		71,969,368		73,875,723		71,849,411
Common stock equivalent shares excluded due to antidilutive effect	3,319,862		3,361,774		3,348,537		3,361,774
Basic and diluted:
Net income per common share	$	0.06	$	0.07	$	0.15	$	0.21
Net income per common share (diluted)	$	0.06	$	0.07	$	0.15	$	0.21