Earnings Per Share

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

Earnings Per Share

7. Earnings Per Share

Earnings per share are computed using the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Diluted earnings per share include the effect of all potentially dilutive securities.

The amounts used in computing earnings per share, including the effect on income and the weighted average number of shares of potentially dilutive securities, are as follows:

	Three Months Ended June 30,		Six Months Ended June 30,
(in thousands, except market price data)	2011	2010	2011	2010
Net income	$8,762	$7,877	$25,495	$13,475
Weighted average number of shares:
Weighted average number of shares used in
calculating basic earnings per share	31,263	31,058	31,243	31,001
Effect of dilutive stock-based compensation
awards:
Stock options	144	53	130	54
Long-term incentive awards	82	50	82	50
Weighted average number of shares used in
calculating diluted earnings per share	31,489	31,161	31,455	31,105
Average market price of common stock used
for calculation of dilutive shares	$25.32	$20.95	$24.57	$21.00
Net income per share:
Basic	$0.28	$0.25	$0.82	$0.43
Diluted	$0.28	$0.25	$0.81	$0.43

There was no dilution resulting from the convertible debt instrument, purchased call option, and warrant that are described in Note 10 as of June 30, 2011 and 2010.

The following table presents the number of shares issued and outstanding:

	Class A Shares	Class B Shares	Less: Treasury Shares	Net shares Outstanding
December 31, 2010	36,442,209	3,236,098	(8,484,528)	31,193,779
March 31, 2011	36,505,292	3,236,098	(8,484,528)	31,256,862
June 30, 2011	36,515,942	3,236,098	(8,479,487)	31,272,553