Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share [Abstract]

Earnings Per Share

8. Earnings Per Share

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

(in thousands, except market price data)	2011	2010	2009
Net income/(loss) available to common shareholders	$34,938	$37,636	($33,458)
Weighted average number of shares:
Weighted average number of shares used in
calculating basic net income/(loss) per share	31,262	31,072	30,612
Effect of dilutive stock-based compensation plans:
Stock options	104	44	-
Long-term incentive plan	144	93	-
Weighted average number of shares used in
calculating diluted net income/(loss) per share	31,510	31,209	30,612
Effect of stock-based compensation plans
that were not included in the computation of
diluted earnings per share because
to do so would have been antidilutive	-	-	82
Average market price of common stock used
for calculation of dilutive shares	$23.44	$20.49	$14.11
Net income/(loss) per share:
Basic	$1.12	$1.21	($1.09)
Diluted	$1.11	$1.21	($1.09)
As of December 31, 2011, 2010, and 2009, there was no dilution resulting from the convertible debt instrument, purchased call option, and warrant that are described in Note 13.

Shares outstanding, net of treasury shares, were 31.3 million as of December 31, 2011, 31.2 million as of December 31, 2010, and 30.9 million as of December 31, 2009.