Stockholders' Equity

6 Months Ended

Jun. 30, 2013

Stockholders' Equity

Stockholders' Equity

9. Stockholders' Equity

• Earnings Per Share

        Basic earnings per share ("EPS") is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted EPS is computed considering the dilutive effect of stock options, contingently issuable restricted stock and restricted stock units.

        There were approximately 0.3 million and 1.0 million of anti-dilutive stock options excluded from the calculation of diluted EPS for the three months ended June 30, 2013 and 2012, respectively. There were approximately 0.4 million and 1.0 million of anti-dilutive stock options excluded from the calculation of diluted EPS for the six months ended June 30, 2013 and 2012, respectively.

        The following table reconciles the number of shares outstanding with the number of shares used in computing basic and diluted earnings per share for each of the periods presented (in thousands):

	Three Months Ended June 30,					Six Months Ended June 30,
	2013			2012		2013			2012
Common shares outstanding, end of period(a)		37,257			37,163		37,257			37,163
Effect of using weighted average common shares outstanding		(67	)		3		(129	)		(52	)
Shares used in computing earnings per share—basic		37,190			37,166		37,128			37,111
Effect of shares issuable under stock option plans based on the treasury stock method		121			81		107			92
Effect of contingently issuable restricted shares		54			—		114			29
Shares used in computing earnings per share—diluted		37,365			37,247		37,349			37,232

(a)

Excludes 0.1 million and 0.2 million shares of unvested contingently issuable restricted stock outstanding as of June 30, 2013 and 2012, respectively.

• Share Repurchase Program

        On March 29, 2007, our Board of Directors (the "Board") approved a stock repurchase program to acquire up to 1.0 million shares of our outstanding common stock. Subsequently, the Board has from time to time approved extensions of the program to acquire additional shares. Since the inception of the repurchase program, the Board has approved 6.6 million shares to be repurchased.

        The share repurchases will be made from time to time at our discretion in the open market or privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. The Board may modify, suspend, extend or terminate the program at any time. We repurchased less than 0.1 million shares during the six months ended June 30, 2013 at an average price of $13.11 per share. Since the inception of the program in 2007 and as of June 30, 2013, we have repurchased a cumulative total of 5.9 million shares at an average price of $10.95 per share.