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EARNINGS PER SHARE (Tables)
3 Months Ended
Mar. 31, 2013
EARNINGS PER SHARE  
Schedule of earnings per share

 

 

 

 

Three Months Ended March 31,

 

(In thousands, except per share data)

 

2013

 

2012

 

 

 

 

 

 

 

Net income from continuing operations

 

$

10,465

 

$

6,481

 

Loss from discontinued operations before income taxes
(including gain on disposal of $63)

 

 

(261

)

Income tax expense

 

 

376

 

Net loss from discontinued operations

 

 

(637

)

Net income

 

$

10,465

 

$

5,844

 

 

 

 

 

 

 

Average number of common shares issued

 

26,525

 

22,860

 

Less: average number of treasury shares

 

1,260

 

1,685

 

Less: average number of unvested stock award shares

 

317

 

220

 

Average number of basic common shares outstanding

 

24,948

 

20,955

 

Plus: dilutive effect of unvested stock award shares

 

73

 

62

 

Plus: dilutive effect of stock options outstanding

 

122

 

45

 

Average number of diluted common shares outstanding

 

25,143

 

21,062

 

 

 

 

 

 

 

Basic and diluted earnings per share:

 

 

 

 

 

Continuing operations

 

$

0.42

 

$

0.31

 

Discontinued operations

 

 

(0.03

)

Total basic and diluted earnings per share

 

$

0.42

 

$

0.28