Net Income Per Share

9 Months Ended

Sep. 30, 2012

Net Income Per Share [Abstract]

Net Income Per Share

6.            Net Income per Share

We utilize the two-class method to compute net income per share.  The two-class method allocates a portion of net income to participating securities, which include unvested awards of share-based payments with non-forfeitable rights to receive dividends.  Net income allocated to unvested share-based payments is excluded from net income allocated to common shares.  Basic net income per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the period.  Diluted net income per share is computed by dividing net income allocated to common shares by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding stock options.

The following table summarizes the net income allocated to common shares and the basic and diluted shares used in the net income per share computations:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2012			2011			2012			2011
	(in thousands)
Net income	$	11,452		$	4,099		$	30,957		$	19,626
Less income allocated to participating securities		(334	)		(120	)		(898	)		(582	)
Net income allocated to common shares	$	11,118		$	3,979		$	30,059		$	19,044
Weighted average common shares outstanding		24,923			25,425			25,034			25,546
Incremental shares from assumed conversions of common stock options		57			74			63			98
Adjusted weighted average common shares outstanding		24,980			25,499			25,097			25,644
Potentially dilutive securities not included in weightedaverage share calculation due to anti-dilutive effect		41			54			33			21