Earnings per Share

9 Months Ended

Sep. 30, 2011

Earnings per Share [Abstract]

Earnings per Share

(5) Earnings Per Share

The following tables set forth the computation of basic and diluted earnings per share.

	Three Months Ended September 30,
	2011		2010
	(In thousands, except per share amounts)
Basic and diluted earnings per share:
Numerator:
Net income	$	2,223		1,666
Net income allocated to Class A common stock	$	2,200		1,649
Net income allocated to Class B common stock		23		17
Net income available to common stockholders	$	2,223		1,666
Denominator:
Weighted average shares of Class A outstanding - basic and diluted		48,912		48,687
Weighted average shares of Class B outstanding - basic and diluted		1,002		1,002
Basic and diluted earnings per share of Class A common stock	$	0.05		0.03
Basic and diluted earnings per share of Class B common stock		0.02		0.02

	Nine Months Ended September 30,
	2011		2010
	(In thousands, except per share amounts)
Basic and diluted earnings per share:
Numerator:
Net income	$	7,246		6,456
Net income allocated to Class A common stock	$	7,172		6,390
Net income allocated to Class B common stock		74		66
Net income available to common stockholders	$	7,246		6,456
Denominator:
Weighted average shares of Class A outstanding - basic		48,762		48,687
Weighted average shares of Class A outstanding - diluted		48,764		48,687
Weighted average shares of Class B outstanding - basic and diluted		1,002		1,002
Basic earnings per share of Class A common stock	$	0.15		0.13
Basic earnings per share of Class B common stock		0.07		0.07
Diluted earnings per share of Class A common stock		0.15		0.13
Diluted earnings per share of Class B common stock		0.07		0.07

The diluted earnings per share calculation has assumptions regarding the exercise of warrants issued to certain investors as discussed below in Note 9 - Convertible Preferred Stock: Warrants.  For the three months ended September 30, 2011, no dilution occurred.  The calculation for the nine months ended September 30, 2011 assumes the issue of 1,851 additional shares with a reduction in net income of $0.1 million.