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Earnings Per Share
 6 Months Ended
Jun. 30, 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

 

Six months ended

 

 

 

June 30,

 

June 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Numerator for basic and diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

 7,105

 

$

 5,624

 

$

 12,786

 

$

 11,352

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average basic common shares outstanding

 

 

 30,171

 

 

 32,005

 

 

 30,175

 

 

 31,912

 

Assumed conversion of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

 2,598

 

 

 1,843

 

 

 2,557

 

 

 1,738

 

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

 

 

 32,769

 

 

 33,848

 

 

 32,732

 

 

 33,650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per common share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 0.24

 

$

 0.18

 

$

 0.42

 

$

 0.36

 

Diluted

 

$

 0.22

 

$

 0.17

 

$

 0.39

 

$

 0.34

 

 

 

For the three and six months ended June 30, 2012, stock options representing the right to purchase common stock of approximately 470,000 shares and 451,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.  For the three and six months ended June 30, 2011, stock options representing the right to purchase common stock of approximately 562,000 shares and 790,000 shares, respectively, were not included in the computation of diluted earnings per share because their inclusion would have had an anti-dilutive effect.