Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE

The following is a reconciliation of weighted-average diluted shares outstanding:

	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
	(in thousands)
Weighted-average common shares outstanding - basic	26,597	23,491	25,103	23,460
Dilutive effect of share-based compensation:
Restricted stock	125	181	157	—
SARs	3	48	4	—
Non-employee director deferred compensation	3	3	4	—
Weighted-average common and common share equivalents outstanding - diluted	26,728	23,723	25,268	23,460

The following table sets forth the weighted-average common share equivalents excluded from the calculation of diluted earnings per share due to their anti-dilutive effect:

	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
	(in thousands)
Weighted-average common share equivalents excluded from diluted earnings
per share due to their anti-dilutive effect:
Restricted stock	90	102	64	587
Stock options	7	10	7	10
SARs	87	32	81	77
Non-employee director deferred compensation	—	—	—	3
Total anti-dilutive common share equivalents	184	144	152	677

In November 2010, we issued 115,000 convertible senior notes, $1,000 principal amount per note, that give the holders the right to convert the aggregate principal amount into 2.7 million common shares at a conversion price of $42.40 per share. The convertible notes could have a dilutive impact on our earnings per share if the average market share price exceeds the conversion price. The average market share price did not exceed $42.40 per share during the three and six months ended 2012 or 2011.