Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share

17. Earnings Per Share

Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period, including the weighted average impact of any shares issued during the year. Diluted earnings per share calculations also include the dilutive effect of stock options and non-vested restricted stock.

The weighted average number of shares used to determine basic and diluted earnings per share was:

	Years Ended December 31,
	2011		2010		2009
Weighted average shares outstanding—basic		37,041,813		33,795,375		24,614,953
Effect of dilution:
Stock options		281,768		307,440		—
Restricted stock		1,391		—		—
Weighted average shares outstanding—diluted		37,324,972		34,102,815		24,614,953
Antidilutive stock options and restricted stock excluded from calculation		625,400		632,000		—