Note 12 - Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Text Block]

12.               EARNINGS PER SHARE:

Basic earnings per share (“EPS”) were computed by dividing income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversions of potentially dilutive options and restricted shares that were outstanding during the period. The Company’s Class A common stock and Class B common stock have equal claims on earnings of the Company.  The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for income from continuing operations:

	2012		2011		2010
Numerator-
Numerator for basic and diluted earnings per share-
Income from continuing operations available to common shareholders	$	62,455,000	$	55,213,000	$	24,567,000
Denominator-
Denominator for basic earnings per share, weighted average shares		38,643,189		37,860,551		37,307,453
Effect of dilutive securities-
Stock options and restricted shares		1,045,254		1,153,846		910,727
Denominator for diluted earnings per share, adjusted weighted average shares and assumed conversions		39,688,443		39,014,397		38,218,180
Basic earnings per common share	$	1.62	$	1.46	$	0.66
Diluted earnings per common share and common share equivalents	$	1.57	$	1.42	$	0.64

Options to purchase shares of common stock that were outstanding for the years ended December 31, 2012, 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:

	2012		2011		2010
Options		1,123,795		533,100		504,830
Total anti-dilutive securities		1,123,795		533,100		504,830