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NET INCOME PER SHARE
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
NET INCOME PER SHARE
NET INCOME PER SHARE
Basic and diluted net income per share was as follows:
 
 
Three Months Ended March 31,
 
2015
 
2014
 
(In thousands, except per share amounts)
Basic net income per share:
 
 
 
Net income
$
8,384

 
$
2,206

Weighted average common shares outstanding
32,736

 
32,275

Basic net income per common share
$
0.26

 
$
0.07

 
 
 
 
Diluted net income per share:
 
 
 
Net income
$
8,384

 
$
2,206

 
 
 
 
Weighted average common shares outstanding — Basic
32,736

 
32,275

Effect of dilutive securities:
 
 
 
2016 Convertible notes
30


—

Stock options and restricted stock
576

 
493

Weighted average common shares for diluted earnings per share
33,342

 
32,768

Diluted net income per common share
$
0.25

 
$
0.07



At March 31, 2015 and 2014, the Company had 1.3 million and 1.4 million of outstanding stock options, respectively. The Company also has warrants outstanding relating to its 2016 Notes at March 31, 2015 and 2014 and the Company's 2016 Notes are convertible to common shares in certain circumstances (see Note 5). Stock options, restricted stock, warrants and the excess conversion value of the 2016 Notes are included in the diluted earnings per share calculation using the treasury stock method, unless the effect of including such items would be anti-dilutive.

For the three months ended March 31, 2015, a minimal amount of anti-dilutive stock options were excluded from the diluted earnings per share calculation. For the three months ended March 31, 2014, 0.2 million of anti-dilutive stock options were excluded from the diluted earnings per share calculation. The effect of outstanding warrants were anti-dilutive because the strike price of the warrants exceeded the Company’s average stock price for the periods presented. The potential excess conversion value of the 2016 Notes were anti-dilutive because the conversion price exceeded the Company's stock price for the three months ended March 31, 2014; therefore, these amounts have been excluded from the diluted earnings per share calculation. However, for the three months ended March 31, 2015, the potential excess conversion value was included in the Company's dilutive share calculation because the average stock price for the three months ended March 31, 2015 exceeded the conversion price.