Stockholders' Equity

9 Months Ended

Sep. 30, 2011

Stockholders' Equity [Abstract]

Stockholders' Equity

9.          Stockholders' Equity

            The following reconciliation details the denominator used in the computation of basic and diluted earnings per share (in thousands):

	Nine Months Ended			Three Months Ended
		September 30,			September 30,
		2011	2010		2011	2010
Weighted average shares outstanding
for basic earnings per share		22,254	22,118		22,273	22,129
Common stock equivalents pertaining
to stock options and contingently
issuable deferred stock units		173	144		174	133
Weighted average shares outstanding
for diluted earnings per share		22,427	22,262		22,447	22,262

The weighted average diluted shares outstanding for the nine months ended September 30, 2011 and 2010 excludes the effect of 1,361,007 and 1,172,223 shares of common stock subject to stock options, respectively, and the three months ended September 30, 2011 and 2010 excludes the effect of 1,413,340 and 1,116,390 stock options, respectively, because including such shares in the calculation of total diluted shares would have been anti-dilutive.

In February 2011, the Company issued 47,506 deferred stock units at $23.15, or $1.1 million, to certain executive officers in lieu of cash for a portion of their 2010 incentive compensation in accordance with their compensation arrangements.

In 2007, the Board of Directors authorized the Company to repurchase up to 1 million shares of the Company's Common Stock from time to time in the open market, in privately negotiated transactions, or in block trades. Of this authorization, 501,279 shares were repurchased prior to 2011 at an average price of $18.65 per share, or $9.3 million in total. During the third quarter of 2011, an additional 33,856 shares were repurchased at an average cost of $18.44 per share, or $0.6 million. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors.

            The following table summarizes information about the Common Stock at (in thousands):

	September 30,		December 31,
	2011	2010		2010
Common stock authorized	30,000	30,000		30,000
Common stock issued	24,738	24,595		24,675
Treasury stock	2,684	2,621		2,651