NET EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2011

NET EARNINGS PER COMMON SHARE [Abstract]

NET EARNINGS PER COMMON SHARE

NOTE 9 - NET EARNINGS PER COMMON SHARE

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

2011	Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	38,765		28,574,623	$	1.36
Effect of dilutive securities – stock options and restricted stock				1,669,837
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	38,765		30,244,460	$	1.28

2010	Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	33,277		27,964,348	$	1.19
Effect of dilutive securities – stock options and restricted stock				1,656,317
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	33,277		29,620,665	$	1.12

2009	Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	26,785		27,420,091	$	.98
Effect of dilutive securities – stock options and restricted stock				1,454,303
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	26,785		28,874,394	$	.93

The Company had 15,400, 288,000 and 338,400 stock options outstanding at December 31, 2011, 2010 and 2009, 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.