Earnings Per Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share

Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share, for the periods indicated:

(In thousands, except per share amounts)	Three Months Ended				Nine Months Ended
	September 30, 2012		September 30, 2011		September 30, 2012		September 30, 2011
Numerator:
Income (loss)	$	58,976	$	15,661	$	63,730	$	40,155
Denominator:
Denominator for basic earnings per share -
Weighted-average shares	16,485		16,106		16,342		15,981
Effect of dilutive stock options	539		828		561		733
Denominator for diluted earnings per share - Adjusted
weighted-average shares and assumed conversions	17,024		16,934		16,903		16,714
Basic income (loss) per share:	$	3.58	$	0.97	$	3.90	$	2.52
Diluted income (loss) per share:	3.46		0.93		3.77		2.40

Certain potential ordinary dilutive shares were excluded from the calculation of diluted weighted-average shares outstanding because they would have an anti-dilutive effect on net income per share (see table below).

	Three Months Ended
	September 30, 2012	September 30, 2011
Anti-dilutive shares excluded	881,254	744,317