Quarterly report pursuant to Section 13 or 15(d)

Net Income (Loss) Per Share

v3.7.0.1
Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Net Loss Per Share
Net Income Per Share
Net income per share is computed as required by the accounting standard for earnings per share, or EPS. Basic EPS is calculated by dividing net income by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock options, restricted stock units and restricted stock awards are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
 
(in thousands, except per share amounts)
Numerator:
 
 
 
 
 
 
 
Net income
$
10,965

 
$
22,584

 
$
19,428

 
$
43,265

Denominator:
 
 
 
 
 
 
 
Weighted average common shares outstanding—basic
65,889

 
63,470

 
65,564

 
63,056

Dilutive common stock equivalents
3,756

 
4,050

 
3,834

 
4,054

Weighted average common shares outstanding—diluted
69,645

 
67,520

 
69,398

 
67,110

Net income per share:
 
 
 
 
 
 
 
Basic
$
0.17

 
$
0.36

 
$
0.30

 
$
0.69

Diluted
$
0.16

 
$
0.33

 
$
0.28

 
$
0.64


The Company excluded 1.3 million and 0.9 million common stock equivalents for outstanding stock-based awards for the three and six months ended June 30, 2017 and 1.2 million and 0.7 million for the three and six months ended June 30, 2016, respectively, from the calculation of diluted net income per share due to their anti-dilutive nature.