Earnings Per Share

9 Months Ended

Sep. 30, 2011

4 — Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Numerator:
Numerator for basic and diluted earnings per share, income from continuing operations available to common shareholders	$	16,045,000	$	8,031,000	$	35,830,000	$	15,369,000

Denominator:
Denominator for basic earnings per share, adjusted weighted average shares outstanding		37,932,300		37,349,899		37,796,072		37,271,416
Effect of dilutive securities:
Employee and director stock options and restricted share awards		1,026,598		848,479		1,159,396		815,593

Denominator for diluted earnings per share, adjusted weighted average shares outstanding and assumed conversions		38,958,898		38,198,378		38,955,468		38,087,009


Basic earnings per common share from continuing operations	$	0.42	$	0.22	$	0.95	$	0.41


Diluted earnings per common share and common share equivalents from continuing operations	$	0.41	$	0.21	$	0.92	$	0.40

Options to purchase shares of common stock that were outstanding for the three months and nine months ended September 30, 2011 and 2010 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows:


	Three Months Ended				Nine months Ended
	September 30,				September 30,
	2011		2010		2011		2010
Anti-dilutive options		684,645		990,330		536,100		985,830