Note 7 - Net Income Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Text Block]

7.   Net Income Per Share

Basic net income per share excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution that would occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock, and calculated using the treasury stock method.  For the years ended December 31, 2011, 2010 and 2009, the Company had securities outstanding, which could potentially dilute basic net income per share in the future, but were excluded from the computation of diluted net income per share in the periods presented, as their effect would have been anti-dilutive. The following table sets forth the computation of basic and diluted net income per share (in thousands, except per share amounts):

	Year Ended December 31,
	2011		2010		2009
Numerator:
Net income	$	13,301	$	29,563	$	19,674
Denominator:
Weighted average oustanding shares used to compute basic net income per share		34,050		35,830		34,310
Effect of dilutive securities		1,110		1,996		2,324
Weighted average oustanding shares used to compute diluted net income per share		35,160		37,826		36,634
Net income per share - basic	$	0.39	$	0.83	$	0.57
Net income per share - diluted	$	0.38	$	0.78	$	0.54

For the years ended December 31, 2011, 2010 and 2009, approximately 4.9 million, 2.0 million and 2.9 million common stock equivalents, respectively, were excluded from the calculation of diluted net income per share because their inclusion would have been anti-dilutive.