Note 9 - Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings per Share: [Abstract]

Earnings Per Share [Text Block]

Note 9. 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 settlement of 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 nine-month periods ended September 30, 2013, approximately 0.2 million and 0.3 million anti-dilutive weighted-average shares were excluded from the calculation of EPS, respectively. For the three-month and nine-month periods ended September 30, 2012, approximately 0.5 million and 0.4 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 September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Net Income	$	11,131	$	9,573	$	31,574	$	28,856
Weighted-average number of basic shares outstanding during the period		19,802		19,610		19,685		19,717
Dilutive effect of stock options, restricted stock and RSUs		363		160		403		287
Weighted-average number of diluted shares outstanding during the period		20,165		19,770		20,088		20,004
Basic earnings per share	$	0.56	$	0.49	$	1.60	$	1.46
Diluted earnings per share	$	0.55	$	0.48	$	1.57	$	1.44