EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2013

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,
	2013		2012
Basic earnings per share:
Net income	$	10,903	$	7,461
Weighted-average common shares	28,754		28,227
Basic earnings per share	$	0.38	$	0.26
Diluted earnings per share (1):
Net income	$	10,903	$	7,461
Weighted-average common shares	28,754		28,227
Effect of dilutive securities:
Employee stock plans	1,029		1,208
Diluted weighted-average common shares	29,783		29,435
Diluted earnings per share	$	0.37	$	0.25

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(1) The Company includes the shares underlying performance-based awards in the calculation of diluted earnings per share if the performance conditions have been satisfied as of the end of the reporting period and excludes such shares when the necessary conditions have not been met. The Company has excluded the shares underlying the 2013 and 2012 awards in the 2013 and 2012 calculation, respectively, as those shares were not contingently issuable as of the end of the period. 

In the three months ended March 31, 2013, and March 31, 2012, 281,973 shares and 297,531 shares, 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.