NET EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2014

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 March 31, 2014	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	8,894		30,146,705	$	.30
Effect of dilutive securities – stock options and restricted stock				932,299
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	8,894		31,079,004	$	.29

Three months ended March 31, 2013	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	10,888		29,316,452	$	.37
Effect of dilutive securities – stock options and restricted stock				1,305,281
Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	10,888		30,621,733	$	.36

The Company had stock options covering 11,500 and 65,000 shares at March 31, 2014 and 2013, 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.