Common Stock Transactions

6 Months Ended

Jun. 30, 2011

Comprehensive Income (Loss)/Common Stock Transactions [Abstract]

COMMON STOCK TRANSACTIONS

8. COMMON STOCK TRANSACTIONS

During the three months ended June 30, 2011 and 2010, the Company accepted 32,324 and 24,114 shares in lieu of cash payments by employees for payroll tax withholdings relating to stock based compensation. During the six months ended June 30, 2011 and 2010, the Company accepted 181,747 and 104,784 shares in lieu of cash payments by employees for payroll tax withholdings relating to stock based compensation.

Stock Repurchase Program

On February 23, 2011, the Company announced that its Board of Directors had approved a stock repurchase program. Under the program, the Company was authorized to repurchase up to $50.0 million of its outstanding shares of common stock from time to time at prevailing prices in the open market or in privately negotiated transactions. The timing and actual number of shares repurchased depended on a variety of factors including the price and availability of the Company’s shares, trading volume and general market conditions.

During the three months ended June 30, 2011, the Company repurchased 970,852 shares in open market transactions at a weighted average price of $16.92 per share. During the six months ended June 30, 2011 the Company completed the stock repurchase program, repurchasing a total of 3,036,769 shares at a weighted average price of $16.46 per share.