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Earnings Per Share
 3 Months Ended
Mar. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

(7) Earnings Per Share

 

The following table details the reconciliation of basic earnings per share to diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

March 31,

 

 

2012

 

2011

Numerator for basic and diluted earnings per share:

 

 

 

 

 

 

Net income

 

$

 5,681

 

$

 5,728

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted-average basic common shares outstanding

 

 

 30,015

 

 

 32,086

Assumed conversion of dilutive securities:

 

 

 

 

 

 

Stock options

 

 

 2,515

 

 

 1,634

Denominator for diluted earnings per share - Adjusted weighted-average shares

 

 

 32,530

 

 

 33,720

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

Basic

 

$

 0.19

 

$

 0.18

Diluted

 

$

 0.17

 

$

 0.17

 

 

For the three months ended March 31, 2012 and the three months ended March 31, 2011, stock options representing the right to purchase common stock of approximately 433,000 shares and 1.0 million shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.