Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

8. 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 and the weighted average number of shares of potentially dilutive securities are as follows:

	Three months ended September 30,		Nine months ended September 30,
(in thousands, except market price data)	2013	2012	2013	2012
Net income available to common shareholders	$4,698	$9,463	$8,830	$22,759
Weighted average number of shares:
Weighted average number of shares used in
calculating basic net income/(loss) per share	31,719	31,363	31,615	31,340
Effect of dilutive stock-based compensation plans:
Stock options	122	35	129	58
Long-term incentive plan	169	152	169	152
Weighted average number of shares used in
calculating diluted net income/(loss) per share	32,010	31,550	31,913	31,550
Average market price of common stock used
for calculation of dilutive shares	$34.43	$19.92	$30.53	$21.46
Net income per share:
Basic	$0.15	$0.30	$0.28	$0.73
Diluted	$0.15	$0.30	$0.28	$0.72

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

	Class A	Class B	Less: Treasury	Net shares
	Shares	Shares	Shares	Outstanding
September 30, 2013	36,954,027	3,236,098	(8,463,635)	31,726,490
June 30, 2013	36,875,127	3,236,098	(8,463,635)	31,647,590
September 30, 2012	36,629,604	3,236,098	(8,467,873)	31,397,829