EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2011

Earnings Per Share [Abstract]

EARNINGS PER SHARE [Text Block]

EARNINGS PER SHARE:

Basic earnings per share are calculated by dividing net income by the weighted-average shares of common stock outstanding during the period. Diluted earnings per share are calculated by dividing net income by the weighted-average shares of common stock and dilutive common equivalent shares outstanding during the period. Dilutive common equivalent shares included in this calculation consist of dilutive shares issuable upon the assumed exercise of outstanding common stock options, the assumed vesting of outstanding restricted stock units and performance based awards, and the assumed issuance of awards under the stock purchase plan, as computed using the treasury stock method.

A summary of the earnings per share calculation is as follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2011		2010		2011		2010
Basic earnings per share:
Net income	$	10,599	$	15,587	$	20,453	$	27,901
Weighted average common shares	28,938		27,844		28,784		27,658
Basic earnings per share	$	0.37	$	0.56	$	0.71	$	1.01
Diluted earnings per share (1):
Net income	$	10,599	$	15,587	$	20,453	$	27,901
Weighted average common shares	28,938		27,844		28,784		27,658
Effect of dilutive securities:
Employee stock plans	1,408		1,691		1,487		1,802
Diluted weighted average common shares	30,346		29,535		30,271		29,460
Diluted earnings per share	$	0.35	$	0.53	$	0.68	$	0.95

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(1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share when they become contingently issuable per ASC 260-10, Earnings per Share and excludes such shares when they are not contingently issuable. The Company has excluded all performance-based awards underlying the fiscal 2011 and 2010 awards as those shares are not contingently issuable as of the end of the period.

Approximately 262,533 shares and 95,793 shares attributable to stock-based awards for the three months ended June 30, 2011 and 2010, respectively, and 234,700 shares and 68,180 shares attributable to stock-based awards for the six months ended June 30, 2011 and 2010, respectively, were not included in the computation of diluted earnings per share for the periods then ended because they were determined to be anti-dilutive.