Earnings Per Share

9 Months Ended

Sep. 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				Nine Months Ended
		September 30,				September 30,
		2011		2010		2011		2010
BASIC
Weighted average number of common shares outstanding
used in computing basic earnings per share		45,603		44,346		45,252		44,031

Net income attributable to common stockholders	$	9,957	$	21,162	$	47,622	$	52,767

Earnings per share attributable to common stockholders	$	0.22	$	0.48	$	1.05	$	1.20

DILUTED
Weighted average number of common shares outstanding
used in computing basic earnings per share		45,603		44,346		45,252		44,031
Add: Assumed exercise of stock options and stock awards		1,490		1,327		1,623		1,387
		47,093		45,673		46,875		45,418

Net income attributable to common stockholders	$	9,957	$	21,162	$	47,622	$	52,767

Earnings per share attributable to common stockholders	$	0.21	$	0.46	$	1.02	$	1.16

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.