Earnings Per Share

6 Months Ended

Jun. 30, 2011

NOTE C – Earnings Per Share

Basic earnings per share is calculated by dividing net earnings by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is calculated similarly but includes potential dilution from the exercise of stock options and stock awards, except when the effect would be anti-dilutive.

The computation of basic and diluted earnings per common share is as follows (in thousands, except per share data):

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2011		2010		2011		2010
BASIC
Weighted average number of common shares outstanding
used in computing basic earnings per share		45,325		43,975		45,074		43,871

Net income attributable to common stockholders	$	17,981	$	16,647	$	37,665	$	31,605

Earnings per share attributable to common stockholders	$	0.40	$	0.38	$	0.84	$	0.72

DILUTED
Weighted average number of common shares outstanding
used in computing basic earnings per share		45,325		43,975		45,074		43,871
Add: Assumed exercise of stock options and stock awards		1,823		1,535		1,763		1,487
		47,148		45,510		46,837		45,358

Net income attributable to common stockholders	$	17,981	$	16,647	$	37,665	$	31,605

Earnings per share attributable to common stockholders	$	0.38	$	0.37	$	0.80	$	0.70

There are no shares included in the earnings per share calculation related to the Company's 2.25% convertible senior notes (“Notes”) outstanding as our average stock price did not exceed the conversion price and, therefore, there is no conversion spread.