NET EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2011

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 September 30, 2011	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	10,785		28,618,618	$	.38

Effect of dilutive securities – stock options and restricted stock				1,692,532

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	10,785		30,311,150	$	.36

Three months ended September 30, 2010	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	8,493		28,004,043	$	.30

Effect of dilutive securities – stock options and restricted stock				1,662,864

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	8,493		29,666,907	$	.29

Nine months ended September 30, 2011	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	29,269		28,531,757	$	1.03

Effect of dilutive securities – stock options and restricted stock				1,679,963

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	29,269		30,211,720	$	.97

Nine months ended September 30, 2010	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	23,861		27,857,852	$	.86

Effect of dilutive securities – stock options and restricted stock				1,657,115

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	23,861		29,514,967	$	.81

The Company had stock options covering 15,200 and 337,650 shares at September 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.