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Earnings Per Share
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
EARNINGS PER SHARE
NOTE 15 — EARNINGS PER SHARE
Basic earnings per share (“EPS”) is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the assumed conversion of all dilutive securities.
Basic and diluted earnings per share for the three and nine months ended September 30, 2011 and 2010 are calculated as follows:
                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
(in thousands)   2011     2010     2011     2010  
 
                               
Net Income Attributable to Altisource
  $ 17,171     $ 9,832     $ 45,381     $ 32,485  
 
                       
Weighted-Average Common Shares Outstanding, Basic
    24,341       25,318       24,602       25,080  
Dilutive Effect of Stock Options
    1,148       1,226       1,118       1,085  
Dilutive Effect of Restricted Shares
                      3  
 
                       
Weighted-Average Common Shares Outstanding, Diluted
    25,489       26,544       25,720       26,168  
 
                       
 
                               
Earnings Per Share
                               
Basic
  $ 0.71     $ 0.39     $ 1.84     $ 1.30  
 
                       
Diluted
  $ 0.67     $ 0.37     $ 1.76     $ 1.24  
 
                       
For the three and nine months ended September 30, 2011, an immaterial amount of options that were anti-dilutive have been excluded from the computation of diluted EPS (0.2 million for the three and nine months ended September 30, 2010). These options were anti-dilutive because their exercise price was greater than the average market price of our stock. Also excluded from the computation of diluted EPS for each of the three and nine months ended September 30, 2011 and 2010 are 0.7 million options granted for shares that are issuable upon the achievement of certain market and performance criteria related to our stock price and an annualized rate of return to investors that have not been met at this point.