Earnings Per Share

3 Months Ended

Mar. 31, 2012

Earnings Per Share

10. Earnings Per Share

For the quarters ended March 31, 2012 and 2011, basic earnings per share were computed by dividing net income by the weighted average number of shares of common stock outstanding during the period. Unexercised stock options and unvested restricted shares are excluded from this calculation but are included in the diluted earnings per share calculation using the treasury stock method as long as their effect is not anti-dilutive.

The following table provides a reconciliation of weighted-average shares used to determine basic and diluted earnings per share.

	Quarter Ended March 31,
In thousands	2012		2011
Basic average common shares outstanding		16,828		16,735
Effect of dilutive options and restricted stock awards		153		103
Diluted average common shares outstanding		16,981		16,838

For the quarters ended March 31, 2012 and March 31, 2011, stock options for 0.4 million and 0.6 million shares of common stock, respectively, were not considered in computing diluted earnings per common share because they were antidilutive.