Earnings per Share

3 Months Ended

Mar. 31, 2012

Earnings per Share

14. Earnings per Share

The following table sets forth basic and diluted weighted average shares outstanding for the periods indicated (in thousands):

	Three Months Ended
	March 31,
	2012		2011
Weighted average shares - basic		19,263		20,124
Effect of dilutive securities		-		27
Weighted average shares - assuming dilution		19,263		20,151

For the three months ended March 31, 2012 and 2011, 880,832 shares and 924,166 shares, respectively, of common stock potentially issuable upon the exercise of employee stock options were excluded from the weighted average number of shares outstanding on a diluted basis because the effect of such options would be anti-dilutive.