Earnings Per Common Share

6 Months Ended

Jun. 30, 2011

(2) EARNINGS PER COMMON SHARE

The following table presents the computation of basic and diluted earnings per share (in thousands except per share data):

			Three months ended June 30,				Six months ended June 30,
				2011		2010		2011		2010
Numerator:
	Net income from continuing operations		$	16,708	$	8,116	$	28,647	$	15,716
	Loss from discontinued operations			(54)		(54)		(114)		(109)
	Net income		$	16,654	$	8,062	$	28,533	$	15,607

Denominator:
	Denominator for basic earnings per
		share - weighted average shares		37,281,262		36,669,518		37,186,826		36,431,766
	Effect of employee stock options⁽¹⁾			741,569		658,541		850,831		584,649
	Effect of warrants to purchase common stock			310,057		158,726		301,585		120,779
	Denominator for dilutive earnings per share -
		adjusted weighted average shares and
		assumed conversions		38,332,888		37,486,785		38,339,242		37,137,194

Basic earnings per common share from
	continuing operations		$	0.45	$	0.22	$	0.77	$	0.43
Basic earnings per common share from
	discontinued operations			-		-		-		-
Basic earnings per common share			$	0.45	$	0.22	$	0.77	$	0.43

Diluted earnings per share from continuing
	operations		$	0.44	$	0.22	$	0.75	$	0.42
Diluted earnings per share from discontinued
	operations			(0.01)		-		-		-
Diluted earnings per common share			$	0.43	$	0.22	$	0.74	$	0.42

(1) Stock options, SARs and RSUs outstanding of 50,500 at June 30, 2011 and 1,235,969 at June 30, 2010 have not been included in diluted earnings per share because to do so would have been anti-dilutive for the periods presented.