First quarter 2014 non-GAAP adjusted net income was $12.4 million, or $0.26 per diluted share, which excluded, net of tax, $1.6 million of non-cash acquisition related intangible asset amortization costs and $0.6 million of retention costs related to the BCD acquisition. This compares to non-GAAP adjusted net income of $11.3 million, or $0.24 per diluted share, in the fourth quarter 2013 and $7.5 million, or $0.16 per diluted share, in the first quarter 2013.
The following is a summary reconciliation of GAAP net income to non-GAAP adjusted net income and per share data, net of tax (in thousands, except per share data):
| Three Months Ended | |||
| March 31, 2014 | |||
| GAAP net income | $ | 10,202 | |
| GAAP diluted earnings per share | $ | 0.21 | |
| Adjustments to reconcile net income | |||
| to adjusted net income: | |||
| Retention costs | 586 | ||
| Amortization of acquisition related intangible assets | 1,565 | ||
| Non-GAAP adjusted net income | $ | 12,353 | |
| Non-GAAP adjusted diluted earnings per share | $ | 0.26 | |
