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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share  
Earnings Per Share
(10) Earnings Per Share
The Company presents basic and diluted earnings per share ("EPS") amounts. Basic EPS is calculated by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the applicable period. Diluted EPS is calculated by dividing net income by the weighted average number of common and common equivalent shares outstanding during the applicable period.
The following table reconciles basic weighted average outstanding shares to diluted weighted average outstanding shares for the quarter and six months ended June 30, 2011 and 2010:
                                 
    Quarter Ended June 30,     Six Months Ended June 30,  
(in thousands, except per share amounts)   2011     2010     2011     2010  
Numerator:
                                
Net income — numerator for basic net earnings per share
   $ 13,373     $ 2,737     $ 20,195     $ 4,755  
Add: Effect of dilutive securities
                                
Stock options and other equity compensation
     —       —       —       —  
 
                        
Numerator for dilutive earnings per share
   $ 13,373     $ 2,737     $ 20,195     $ 4,755  
 
                        
Denominator:
                                
Weighted average shares — denominator for basic net earnings per share
     50,298       46,070       48,950       45,880  
Add: Effect of dilutive securities
                                
Stock options and other equity compensation
     1,049       602       1,054       580  
 
                        
Denominator for dilutive earnings per share
     51,347       46,672       50,004       46,460  
 
                        
Earnings per share
                                
Basic
   $ 0.27     $ 0.06     $ 0.41     $ 0.10  
 
                        
Diluted
   $ 0.26     $ 0.06     $ 0.40     $ 0.10  
 
                        
Unexercised employee stock options excluded from diluted earnings per share (1)
     —       560       —       560  
     
(1)  
The average outstanding diluted shares calculation excludes options with an exercise price that exceeds the average market price of shares during the period, since the effect of their inclusion would have been anti-dilutive resulting in an increase to the net earnings per share.