Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2012

Computation of Basic and Diluted Earning Per Share

The following table sets forth the computation of basic and diluted earnings per share as follows:

	Three Months Ended June 30,					Six Months Ended June 30,
	2012		2011			2012			2011
	(in thousands, except share and per share data)
Numerator for common earnings per share:
Operating expenses:
Net income	$	13,321	$	8,277		$	25,420		$	18,019
Accretion of preferred stock		—		(15,271	)		—			(17,563	)
Net income allocated to participating securities		—		—			(3,176	)		(4,188	)
Numerator for basic (common) earnings per share		13,321		(6,994	)		22,244			(3,732	)
Effect on income available from reallocation of options		—		3,629			264			3,946
Numerator for diluted (common) earnings per share	$	13,321	$	(3,365	)	$	22,508		$	214
Numerator for (puttable common) earnings per share:
Net income allocated to basic (puttable common)		—		—			—			11
Effect on income available from reallocation of options		—		—			—			(1	)
Numerator for diluted (puttable common) earnings per share		—		—			—			10
Denominator for basic (common) earnings per share:
Weighted average common shares outstanding		42,475		17,056			36,987			17,055
Effect of dilutive securities:
Stock options		3,907		3,244			3,833			3,244
Denominator for diluted (common) earnings per share		46,382		20,300			40,820			20,299
Denominator for basic and diluted (puttable common) earnings per share:
Weighted average puttable common shares outstanding		—		57			—			57
Earnings/(loss) per share:
Basic (common)	$	0.31	$	(0.41	)	$	0.60		$	(0.22	)
Basic (puttable common)		—		—			—		$	0.19
Diluted (common)	$	0.29	$	(0.41	)	$	0.55		$	(0.22	)
Diluted (puttable common)		—		—			—		$	0.18
Anti-dilutive options not included in the calculation		1,393		—			1,396			—