Shares issued and outstanding at beginning of period

44,682,427

44,226,493

Weighted average number of shares:

Issued during the period

337,006

329,888

Weighted average number of shares used in computing basic earnings per share

45,019,433

44,556,381

Assumed exercise of stock options, net of shares assumed acquired under the Treasury Stock Method

260,499

238,593

Number of shares used in computing diluted earnings per share

45,279,932

44,794,974