Note 8 - Earnings Per Share

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

8. 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, exclusive of restricted shares. Except where the result would be anti-dilutive, dilutive earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options, as well as their related income tax benefits. The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:

	Three Months Ended June 30,				Six Months Ended June 30,
	2014		2013		2014		2013
Numerator- net income	$	54,025	$	28,254	$	88,726	$	78,928
Denominator- weighted average shares
Basic		68,538,251		68,140,330		68,481,682		68,003,164
Dilutive effect of stock compensation awards (1)		1,549,725		1,669,269		1,606,756		1,798,334
Diluted		70,087,976		69,809,599		70,088,438		69,801,498
Net income per share
Basic	$	0.79	$	0.41	$	1.30	$	1.16
Diluted	$	0.77	$	0.40	$	1.27	$	1.13

(1) Excludes approximately 64,800 and 70,400 stock options for the three and six month periods ended June 30, 2014, respectively, as the impact of such awards was anti-dilutive. Excludes approximately 300,000 and 250,000 stock options for the three and six month periods ended June 30, 2013, respectively, as the impact of such awards was anti-dilutive.