Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

v3.4.0.3
Net Income Per Share
3 Months Ended
Mar. 31, 2016
Earnings Per Share [Abstract]  
Net Income Per Share
Net Income Per Share
 
Basic net income per common share (“Basic EPS”), is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per common share (“Diluted EPS”) reflects the potential dilution that could occur if stock options or other contracts to issue common stock were exercised or converted into common stock. The computation of Diluted EPS does not assume exercise or conversion of securities that would have an anti-dilutive effect on net income per common share.

Following is a reconciliation of the numerator and denominator of Basic EPS to the numerator and denominator of Diluted EPS for the three months ended March 31, 2016 and 2015 (dollar and share amounts in thousands, except for per share information): 
 
Three Months Ended
March 31,
 
2016
 
2015
Net income attributable to common shareholders:
 

 
 

Net income from continued operations
$
2,069

 
$
4,355

Income from discontinued operations
$

 
$
1,312

Net income
$
2,069

 
$
5,667

 
 
 
 
Basic weighted average shares outstanding
18,694

 
18,621

 
 
 
 
Basic earnings per share attributable to common shareholders:
 

 
 

Net income from continued operations
$
0.11

 
$
0.23

Income from discontinued operations
$

 
$
0.07

Net income
$
0.11

 
$
0.30

 
 
 
 
Diluted shares outstanding
 

 
 

Basic weighted-average shares outstanding
18,694

 
18,621

Stock-based awards
436

 
571

Diluted weighted-average shares outstanding
19,130

 
19,192

 
 
 
 
Diluted earnings per share attributable to common shareholders:
 

 
 

Net income from continued operations
$
0.11

 
$
0.23

Income from discontinued operations
$

 
$
0.07

Net income
$
0.11

 
$
0.30

 
 
 
 
Potentially dilutive shares excluded from diluted-per-share amounts:
 

 
 

Stock options
86

 
399

 
 
 
 
Potentially anti-dilutive shares excluded from diluted-per-share amounts:
 

 
 

Stock options
1,454

 
733


 
Potentially dilutive shares excluded from diluted-per-share amounts include performance-based options to purchase shares of common stock for which certain earnings metrics have not been achieved. Potentially anti-dilutive shares excluded from diluted-per-share amounts include both non-qualified stock options and unearned performance-based options to purchase shares of common stock with exercise prices greater than the weighted-average share price during the period and shares that would be anti-dilutive to the computation of diluted net income per share for each of the years presented.