| Earnings Per Share [Text Block] |
Earnings and Net Income per Common Share
Basic earnings per share (EPS) and net loss per share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net loss per share is computed by dividing net loss by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assumed that the target number of shares would be issued within the calculation of diluted net income per common share.
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and nine months ended December 31, 2012 and 2011, respectively, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2012 |
|
Three Months Ended December 31, 2011 |
|
Nine Months Ended December 31, 2012 |
|
Nine Months Ended December 31, 2011 |
Basic net income per common share |
|
|
|
|
|
|
|
|
|
Net income |
$ |
7,738 |
|
|
$ |
6,933 |
|
|
$ |
21,325 |
|
|
$ |
5,781 |
|
Weighted-average common shares outstanding |
30,947,064 |
|
|
29,586,956 |
|
|
30,672,803 |
|
|
28,937,292 |
|
Basic net income per common share |
$ |
0.25 |
|
|
$ |
0.23 |
|
|
$ |
0.70 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2012 |
|
Three Months Ended December 31, 2011 |
|
Nine Months Ended December 31, 2012 |
|
Nine Months Ended December 31, 2011 |
Diluted net income per common share |
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
7,738 |
|
|
$ |
6,933 |
|
|
$ |
21,325 |
|
|
$ |
5,781 |
|
Weighted-average common shares outstanding |
30,947,064 |
|
|
29,586,956 |
|
|
30,672,803 |
|
|
28,937,292 |
|
Common share equivalents: |
|
|
|
|
|
|
|
Stock options issued |
868,110 |
|
|
1,629,537 |
|
|
1,028,056 |
|
|
1,542,868 |
|
Restricted and performance stock units issued |
55,923 |
|
|
— |
|
|
24,865 |
|
|
— |
|
Weighted average shares outstanding – dilutive |
31,871,097 |
|
|
31,216,493 |
|
|
31,725,724 |
|
|
30,480,160 |
|
Diluted net income per common share |
$ |
0.24 |
|
|
$ |
0.22 |
|
|
$ |
0.67 |
|
|
$ |
0.19 |
|
|
| Schedule of reconciliation of the denominators used to calculate basic EPS and diluted EPS |
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and nine months ended December 31, 2012 and 2011, respectively, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2012 |
|
Three Months Ended December 31, 2011 |
|
Nine Months Ended December 31, 2012 |
|
Nine Months Ended December 31, 2011 |
Basic net income per common share |
|
|
|
|
|
|
|
|
|
Net income |
$ |
7,738 |
|
|
$ |
6,933 |
|
|
$ |
21,325 |
|
|
$ |
5,781 |
|
Weighted-average common shares outstanding |
30,947,064 |
|
|
29,586,956 |
|
|
30,672,803 |
|
|
28,937,292 |
|
Basic net income per common share |
$ |
0.25 |
|
|
$ |
0.23 |
|
|
$ |
0.70 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, 2012 |
|
Three Months Ended December 31, 2011 |
|
Nine Months Ended December 31, 2012 |
|
Nine Months Ended December 31, 2011 |
Diluted net income per common share |
|
|
|
|
|
|
|
|
|
|
|
Net income |
$ |
7,738 |
|
|
$ |
6,933 |
|
|
$ |
21,325 |
|
|
$ |
5,781 |
|
Weighted-average common shares outstanding |
30,947,064 |
|
|
29,586,956 |
|
|
30,672,803 |
|
|
28,937,292 |
|
Common share equivalents: |
|
|
|
|
|
|
|
Stock options issued |
868,110 |
|
|
1,629,537 |
|
|
1,028,056 |
|
|
1,542,868 |
|
Restricted and performance stock units issued |
55,923 |
|
|
— |
|
|
24,865 |
|
|
— |
|
Weighted average shares outstanding – dilutive |
31,871,097 |
|
|
31,216,493 |
|
|
31,725,724 |
|
|
30,480,160 |
|
Diluted net income per common share |
$ |
0.24 |
|
|
$ |
0.22 |
|
|
$ |
0.67 |
|
|
$ |
0.19 |
|
|