NET EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2011

NET EARNINGS PER SHARE [Abstract]

NET EARNINGS PER SHARE

NOTE 6 – NET EARNINGS PER SHARE

The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share:

Three months ended June 30, 2011	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	9,572		28,544,898	$	.34
Effect of dilutive securities – stock options and restricted stock				1,687,594
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	9,572		30,232,492	$	.32

Three months ended June 30, 2010	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	8,339		27,812,204	$	.30
Effect of dilutive securities – stock options and restricted stock				1,722,089
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	8,339		29,534,293	$	.28

Six months ended June 30, 2011	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	18,484		28,488,327	$	.65
Effect of dilutive securities – stock options and restricted stock				1,673,735
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	18,484		30,162,062	$	.61

Six months ended June 30, 2010	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	15,368		27,784,956	$	.55
Effect of dilutive securities – stock options and restricted stock				1,654,118
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	15,368		29,439,074	$	.52

The Company had stock options covering 283,100 and 338,250 shares at June 30, 2011 and 2010, respectively, that could potentially dilute basic earnings per share in future periods that were not included in diluted earnings per share because their effect on the period presented was anti-dilutive.

The Company has some share-based payment awards that have non-forfeitable dividend rights. These awards are restricted shares and they participate on a one-for-one basis with holders of common stock. These awards have an immaterial impact as participating securities with regard to the calculation using the two-class method for determining earnings per share.