Earnings Per Common Share

9 Months Ended

Sep. 30, 2011

Earnings Per Common Share [Abstract]

EARNINGS PER COMMON SHARE

4. EARNINGS PER COMMON SHARE

The following table presents the Company’s basic and diluted earnings per share computations:

	For the three months						For the nine months
	ended September 30,						ended September 30,
(In thousands, except per share amounts)	2011			2010			2011			2010
Net income from continuing operations before noncontrolling interests	$	7,295		$	5,037		$	13,631		$	15,697
Less: Income attributable to noncontrolling interests		(178	)		(6	)		(814	)		(496	)
Net income from continuing operations attributable to Michael Baker Corporation		7,117			5,031			12,817			15,201
Net income/(loss) from discontinued operations, net of tax		116			(682	)		101			(1,478	)
Net income attributable to Michael Baker Corporation	$	7,233		$	4,349		$	12,918		$	13,723
	For the three months						For the nine months
	ended September 30,						ended September 30,
(In thousands, except per share amounts)	2011			2010			2011			2010
Basic:
Weighted average shares outstanding		9,324			8,949			9,284			8,919
Earnings/(loss) per share:
Continuing operations	$	0.76		$	0.56		$	1.38		$	1.70
Discontinued operations		0.01			(0.07	)		0.01			(0.17	)
Total	$	0.77		$	0.49		$	1.39		$	1.54
Diluted:
Effect of dilutive securities—stock-based compensation		10			324			22			195
Weighted average shares outstanding		9,334			9,273			9,306			9,114
Earnings/(loss) per share:
Continuing operations	$	0.76		$	0.54		$	1.38		$	1.67
Discontinued operations		0.01			(0.07	)		0.01			(0.16	)
Total	$	0.77		$	0.47		$	1.39		$	1.51

For the three and nine months ended September 30, 2011, Company stock options totaling 72,000 and 56,000, respectively, compared to 48,000 for both the three and nine months ended September 30, 2010 were excluded from the computations of diluted shares outstanding because the option exercise prices were more than the average market price of the Company’s common shares.