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EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
EARNINGS PER SHARE
Basic and Diluted Earnings Per Share
Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of common shares outstanding during the period. The weighted-average number of common shares outstanding does not include any potentially dilutive securities or any unvested restricted shares of common stock. These unvested restricted shares, although classified as issued and outstanding at June 30, 2013 and June 30, 2012, are considered contingently returnable until the restrictions lapse and will not be included in the basic earnings per share calculation until the shares are vested. Unvested shares of our restricted stock do not contain nonforfeitable rights to dividends or dividend equivalents.
Diluted earnings per share includes the effect of all potentially dilutive securities on earnings per share. Our unvested restricted shares and stock options are potentially dilutive securities. The difference between basic and diluted weighted-average shares outstanding was the dilutive effect of unvested restricted shares and stock options for the three and six months ended June 30, 2013 and 2012.
The following table represents a reconciliation of the shares used in the calculation of basic and diluted net income per share from continuing operations computations contained in our condensed consolidated financial statements (in thousands, except per share data):

 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2013
 
2012
 
2013
 
2012
Net income from continuing operations
$
8,108

 
$
6,693

 
$
15,289

 
$
12,919

Weighted-average shares outstanding - basic and diluted:
 
 
 
 
 
 
 
Weighted-average shares outstanding - basic
46,204

 
48,103

 
46,146

 
48,279

Add effect of dilutive securities:
 
 
 
 
 
 
 
Unvested restricted shares
506

 
448

 
467

 
451

Stock options
10

 
—

 
5

 
10

Weighted-average shares outstanding - diluted
46,720

 
48,551

 
46,618

 
48,740

Basic net income per share from continuing operations
$
0.18

 
$
0.14

 
$
0.33

 
$
0.27

Diluted net income per share from continuing operations
$
0.17

 
$
0.14

 
$
0.33

 
$
0.27



The weighted-average diluted common shares outstanding for the three and six months ended June 30, 2013 excludes the effect of an aggregate of 890 and 45,361 restricted shares and out-of-the-money options, respectively, because their effect would be anti-dilutive. The weighted-average diluted common shares outstanding for the three and six months ended June 30, 2012 excludes the effect of an aggregate of 117,077 and 149,913 restricted shares, out-of-the-money options and warrants, respectively, because their effect would be anti-dilutive.