Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Text Block]

Earnings Per Share [Text Block]

Note 8. Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing reported net income by the weighted-average number of shares outstanding. Diluted EPS considers the potential dilution that could occur if common stock equivalents were exercised or converted into stock. The difference between the basic and diluted weighted-average equivalent shares with respect to the Company’s EPS calculation is due entirely to the assumed exercise of stock options and the vesting of restricted stock and RSUs. The dilutive effect of stock options and RSUs excludes shares that would be anti-dilutive to the calculation of EPS if included. For the three-month and six-month periods ended June 30, 2013, approximately 0.4 million and 0.3 million anti-dilutive weighted-average shares have been excluded from the calculation of EPS, respectively. For the three-month and six-month periods ended June 30, 2012, 0.8 million and 0.3 million anti-dilutive weighted-average shares were excluded from the calculation of EPS, respectively. The dilutive effect of stock options, restricted stock, and RSUs for each period reported is summarized below:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
Net Income	$	10,331	$	10,346	$	20,443	$	19,283
Weighted-average number of basic shares outstanding during the period		19,706		19,774		19,625		19,771
Dilutive effect of stock options, restricted stock and RSUs		290		197		368		290
Weighted-average number of diluted shares outstanding during the period		19,996		19,971		19,993		20,061
Basic earnings per share	$	0.52	$	0.52	$	1.04	$	0.98
Diluted earnings per share	$	0.52	$	0.52	$	1.02	$	0.96