NET INCOME PER SHARE

6 Months Ended

Jun. 30, 2012

NET INCOME PER SHARE

NET INCOME PER SHARE

3. NET INCOME PER SHARE

        Basic net income per share for the three and six months ended June 30, 2011 and 2012 is computed on the basis of the weighted average number of common shares outstanding. Diluted net income per common share is computed using the "if converted method" with the weighted average number of common shares outstanding plus the effect of outstanding stock options calculated using the "treasury stock" method. The number of shares excluded from the diluted net income per common share computation because their effect was antidilutive was 4,385,592 and 3,859,419 for the three months ended June 30, 2011 and 2012, respectively, and 4,385,592 and 3,859,419 for the six months ended June 30, 2011 and 2012, respectively.

        The components of basic and diluted net income per share were as follows:

	Three months ended June 30,		Six months ended June 30,
	2011	2012	2011	2012
Net income attributable to CTC Media, Inc. stockholders	$38,468	34,046	$61,260	66,668
Weighted average common shares outstanding—basic
Common stock	157,266,697	158,160,719	157,135,034	157,648,016
Dilutive effect of:
Common stock options	897,652	—	951,971	232,202
Weighted average common shares outstanding—diluted	158,164,349	158,160,719	158,087,005	157,880,218
Net income per share attributable to CTC Media, Inc. stockholders:
Basic	$0.24	$0.22	$0.39	$0.42
Diluted	$0.24	$0.22	$0.39	$0.42

        The numerator used to calculate diluted net income per common share for the three and six months ended June 30, 2011 and 2012 was net income attributable to CTC Media, Inc. stockholders.