Stockholders' Equity

9 Months Ended

Sep. 30, 2012

Stockholders' Equity [Abstract]

Stockholders' Equity

9. Stockholders' Equity

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

	September 30,		December 31,
	2012	2011	2011
Common stock authorized	30,000	30,000	30,000
Common stock issued	25,070	24,738	24,826
Treasury stock	2,684	2,684	2,684

     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,
	2012	2011	2012	2011
Weighted average shares outstanding
for basic earnings per share	22,507	22,254	22,563	22,273
Common stock equivalents pertaining
to stock options and contingently
issuable deferred stock units	217	173	237	174
Weighted average shares outstanding
for diluted earnings per share	22,724	22,427	22,800	22,447

     The weighted average diluted shares outstanding for the nine months ended September 30, 2012 and 2011 excludes the effect of 797,038 and 1,467,393 shares of common stock, respectively, subject to stock options and deferred stock units. The weighted average diluted shares outstanding for the three months ended September 30, 2012 and 2011 excludes the effect of 592,038 and 1,519,726 shares of common stock, respectively, subject to stock options and deferred stock units. Such shares were excluded from total diluted shares because they were anti-dilutive or the specified performance conditions those shares were subject to were not yet achieved.

     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, 535,135 shares were repurchased prior to 2012 at an average price of $18.64 per share, or $10.0 million. No shares have been purchased in 2012. The number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors.