EARNINGS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2013

EARNINGS PER SHARE [Abstract]

Computation of Basic and Diluted Earning Per Share

The following table sets forth the computation of basic and diluted earnings per share as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(in thousands, except share and per share data)
Numerator for common earnings per share:
Operating expenses:
Net income	$	14,118	$	13,321	$	26,798	$	25,420
Net income allocated to participating securities		-		-		-		(3,176	)
Numerator for basic earnings per share		14,118		13,321		26,798		22,244
Effect on income available from reallocation of options		-		-		-		264
Numerator for diluted earnings per share	$	14,118	$	13,321	$	26,798	$	22,508
Denominator for basic earnings per share:
Weighted average common shares outstanding		45,486		42,475		45,151		36,987
Effect of dilutive securities:
Stock options		2,491		3,907		2,662		3,833
Denominator for diluted earnings per share		47,977		46,382		47,813		40,820
Net income per share:
Basic (common)	$	0.31	$	0.31	$	0.59	$	0.60
Diluted (common)	$	0.29	$	0.29	$	0.56	$	0.55
Anti-dilutive options not included in the calculation		950		1,393		1,162		1,396