Earnings Per Share

9 Months Ended

Sep. 30, 2011

NOTE 3. EARNINGS PER SHARE

Basic earnings per share ("EPS") is computed as net income divided by the weighted-average number of shares of common stock outstanding for the period. Diluted EPS is computed as net income divided by the weighted-average number of shares outstanding of common stock and common stock equivalents for the period, including the dilutive effects of stock options and other potentially dilutive securities. Common stock equivalents result from the number of dilutive options and are computed using the treasury stock method and the average share price for the reported period. The table below presents the weighted-average number of shares of common stock used to calculate basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2011		2010		2011		2010
Weighted-average number of shares of common stock for calculating basic earnings per share		24,362		23,936		24,320		23,884
Effect of potentially dilutive securities from equity-based compensation		357		237		382		254

Weighted-average number of shares of common stock for calculating diluted earnings per share		24,719		24,173		24,702		24,138

The following securities were not included in the computation of diluted earnings per share as their effect would have been anti-dilutive:

Three Months Ended
September 30,

Nine Months Ended
September 30,

(in thousands)

2011

2010

2011

2010

Options to purchase shares of common stock

1,175

1,359

1,168

1,349