NET INCOME PER SHARE

3 Months Ended

Mar. 31, 2017

Basic and diluted net income per share was as follows:



	Three Months Ended March 31,
	2017		2016
	(In thousands, except per share amounts)
Basic net income per share:
Net income	$	6,394	$	13,419
Weighted average common shares outstanding	74,765		73,934
Basic net income per common share	$	0.09	$	0.18

Diluted net income per share:
Net income	$	6,394	$	13,419

Weighted average common shares outstanding — Basic	74,765		73,934
Effect of dilutive securities:
2016 Convertible notes	—		1,306
Warrants	2,139		—
Stock options and restricted stock	1,490		1,226
Weighted average common shares for diluted earnings per share	78,394		76,466

Diluted net income per common share	$	0.08	$	0.18

Shares of common stock of approximately 0.2 million and 0.6 million at March 31, 2017 and 2016, respectively, that are issuable through the exercise of dilutive securities were not included in the computation of diluted net income per share because their effect would have been antidilutive.

For the three months ended March 31, 2017 the potential excess conversion value on warrants was included in the Company's dilutive share calculation because the average stock price for the three months ended March 31, 2017 exceeded the conversion price. For the three months ended March 31, 2016, the potential excess conversion value on warrants was excluded in the Company's dilutive share calculation because the effect was anti-dilutive.

For the three months ended March 31, 2016 the potential excess conversion value on the 2016 Notes were included in the Company's dilutive share calculation because the average stock price for the three months ended March 31, 2016 exceeded the conversion price.

Restricted and performance units that entitle the holders to approximately 0.5 million shares of common stock are included in the basic and diluted weighted average shares outstanding calculation because no further consideration is due related to the issuance of the underlying common shares.