EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2011

EARNINGS PER COMMON SHARE [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER COMMON SHARE

The following table illustrates the computation of basic and diluted earnings per share for the year ended December 31, 2011 and for the period from the Separation Date through December 31, 2010 (in thousands, except share and per share amounts):

	Year Ended December 31, 2011		Period from November 15, 2010 to December 31, 2010
Numerator
Net income	$	12,842	$	7
Denominator
Basic weighted average common shares	30,109,417		25,110,936
Dilutive stock options and restricted stock units	61,808		76,052
Diluted weighted average common shares	30,171,225		25,186,988
Basic earnings per common share	$	0.43	$	—
Diluted earnings per common share	$	0.43	$	—

The Carry-Over Units are considered participating securities because dividend payments are not forfeited even if the underlying award does not vest. Accordingly, the Company uses the two-class method when computing basic and diluted earnings per share. During the year ended December 31, 2011 and for the period from the Separation Date through December 31, 2010, approximately 0.2 million and 0.4 million restricted stock units, respectively, and options to purchase approximately 0.4 million and 0.3 million shares, respectively, were not included because they were anti-dilutive.