Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

(14) Earnings Per Share

Basic earnings per share is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock; however, potential common equivalent shares are excluded if their effect is anti-dilutive.

The following table sets forth the reconciliation of basic and diluted net income per share for the three and six months ended June 30, 2011 and 2010 (in thousands, except per share data):

	Three Months Ended June 30,				Six Months Ended June 30,
	2011		2010		2011		2010
Numerator:
Net income attributable to CAI common stockholders used in calculation of basic and diluted earnings per share	$	10,880	$	5,676	$	23,676	$	8,725
Denominator:
Weighted average shares used in the calculation of basic earnings per share		19,295		17,910		19,295		17,908
Effect of dilutive securities:
Stock options		503		231		483		190
Weighted average shares used in the calculation of diluted earnings per share		19,798		18,141		19,779		18,098
Net income per share attributable to CAI common stockholders:
Basic	$	0.56	$	0.32	$	1.23	$	0.49
Diluted	$	0.55	$	0.31	$	1.20	$	0.48

The calculation of diluted earnings per share for the three and six months ended June 30, 2011 excluded from the denominator 220,000 shares of stock options granted to officers and directors because their effect would have been anti-dilutive. The calculation of diluted earnings per share for the three and six months ended June 30, 2010 excluded from the denominator 480,180 shares of stock options granted to officers and directors because their effect would have been anti-dilutive.