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EARNINGS PER SHARE
 3 Months Ended
Mar. 31, 2012
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
 
March 31,
 
2012
 
2011
Basic earnings per share:
 
 
 
Net income
$
7,461

 
$
9,854

Weighted-average common shares
28,227

 
28,628

Basic earnings per share
$
0.26

 
$
0.34

Diluted earnings per share (1):

 

Net income
$
7,461

 
$
9,854

Weighted-average common shares
28,227

 
28,628

Effect of dilutive securities:

 

Employee stock plans
1,208

 
1,559

Diluted weighted-average common shares
29,435

 
30,187

Diluted earnings per share
$
0.25

 
$
0.33

_______________ 

(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 2012 and 2011 awards as those shares were not contingently issuable as of the end of the period.

Approximately 297,531 shares and 210,044 shares attributable to stock-based awards for the three months ended March 31, 2012 and 2011, 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.