Earnings per Share

6 Months Ended

Jun. 30, 2012

Earnings per Share

Note 7 — Earnings per Share

The computations of basic and diluted earnings per share are set forth below:

	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2012		2011		2012		2011
	(in thousands, except per share amounts, unaudited)
Numerator for basic and diluted EPS — net income allocated to common stockholders	$	2,242	$	21,483	$	18,376	$	19,902
Denominator for basic EPS — weighted average number of shares		30,508		31,010		30,650		31,179
Add — dilutive effect of:
Weighted average number of incremental shares issuable from restricted stock units		5		1		6		9
Denominator for diluted EPS — weighted average number of shares and dilutive potential shares		30,513		31,011		30,656		31,188
Earnings per share:
Basic	$	0.07	$	0.69	$	0.60	$	0.64
Diluted	$	0.07	$	0.69	$	0.60	$	0.64

The weighted number of shares and dilutive potential shares do not include the contingent convertible preferred shares issued to the founding partners of Caliburn Partnership Pty Limited. Such shares will potentially convert to shares of the Company’s common stock in tranches of 659,926 and 439,951 shares on the third and fifth anniversary of the closing of the Acquisition, respectively, if certain revenue targets are achieved. At the time a revenue target is achieved such shares will be included in the Company’s share count. If the revenue targets for a tranche are not achieved, the contingent convertible preferred shares in that tranche will be cancelled.