Quarterly report pursuant to Section 13 or 15(d)

Net Income per Share

v2.4.0.8
Net Income per Share
9 Months Ended
Sep. 30, 2013
Net Income per Share  
Net Income per Share
3. Net Income per Share
 
Net income per share represents net income attributable to common stockholders divided by the weighted average number of common shares outstanding during a reported period. The diluted net income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock, including stock options (commonly and hereafter referred to as “common stock equivalents”), were exercised or converted into common stock.  Diluted net income per share is calculated by dividing net income during a reported period by the sum of the weighted average number of common shares outstanding plus common stock equivalents for the period.
The following table reconciles share amounts utilized to calculate basic and diluted net income per share (in thousands, except per share data):
 
 
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
 
2013
   
2012
   
2013
   
2012
 
Net income  
 
$
8,763
   
$
6,977
   
$
25,282
   
$
29,260
 
                               
Basic - weighted average common shares  
   
15,816
     
16,103
     
15,545
     
16,273
 
Diluted effect of common stock equivalents  
   
573
     
572
     
639
     
742
 
Diluted - weighted average common shares  
   
16,389
     
16,675
     
16,184
     
17,015
 
                               
Earnings per share:
                               
Basic  
 
$
0.55
   
$
0.43
   
$
1.63
   
$
1.80
 
Diluted  
 
$
0.53
   
$
0.42
   
$
1.56
   
$
1.72
 
 
                               

The calculation of dilutive shares excludes the effect of the following options that are considered anti-dilutive (in thousands):
 
 
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
 
2013
   
2012
   
2013
   
2012
 
Anti-dilutive stock option shares
   
43
     
174
     
80
     
108