Note 10 - Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings per Share: [Abstract]

Earnings Per Share [Text Block]

Note 10. 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 period ended March 31, 2014, less than 0.1 million anti-dilutive weighted-average shares were excluded from the calculation of EPS. For the three-month period ended March 31, 2013, approximately 0.4 million anti-dilutive weighted-average shares were excluded from the calculation of EPS. The dilutive effect of stock options, restricted stock, and RSUs for each period reported is summarized below:

	Three Months Ended March 31,
	2014		2013
Net Income	$	9,716	$	10,112
Weighted-average number of basic shares outstanding during the period		19,804		19,543
Dilutive effect of stock options, restricted stock and RSUs		473		332
Weighted-average number of diluted shares outstanding during the period		20,277		19,875
Basic earnings per share	$	0.49	$	0.52
Diluted earnings per share	$	0.48	$	0.51