Earnings Per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Common Share [Abstract]

Earnings Per Common Share

Note B – Earnings Per Common Share

The following tables set forth the computations of basic and diluted earnings per common share for the three and nine months ended September 30, 2012 and 2011 (in thousands, except per share data):

	Three Months Ended September 30,				Nine Months Ended September 30,
Basic earnings per common share:	2012		2011		2012		2011
Numerator:
Net earnings	$	2,565	$	422	$	3,859	$	1,504
Denominator:
Weighted-average common shares outstanding		25,541		24,744		25,370		24,510
Basic earnings per common share	$	0.10	$	0.02	$	0.15	$	0.06

	Three Months Ended September 30,				Nine Months Ended September 30,
Diluted earnings per common share:	2012		2011		2012		2011
Numerator:
Net earnings	$	2,565	$	422	$	3,859	$	1,504
Denominator:
Weighted-average common shares outstanding		25,541		24,744		25,370		24,510
Incremental shares from stock-based compensation plans		709		469		572		391
Denominator for diluted earnings per common share		26,250		25,213		25,942		24,901
Diluted earnings per common share	$	0.10	$	0.02	$	0.15	$	0.06

Weighted average shares outstanding excludes anti-dilutive shares underlying Performance Units related to the Company’s 2006 Management Incentive Plan and options that totaled 0.8 million shares for both the three and nine-month periods ended September 30, 2012 and 1.9 million for both the three and nine-month periods ended September 30, 2011. The number of common shares we used in the basic and diluted earnings per common share computations include nonvested restricted shares of 0.9 million for both the three and nine months ended September 30, 2012 and 1.2 million for both the three and nine months ended September 30, 2011, and nonvested restricted share units that we consider to be participating securities of 0.2 million for both the three and nine months ended September 30, 2012 and 0.3 million for both the three and nine months ended September 30, 2011.