7. Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings per share:

Earnings Per Share

Earnings per share for the three-month and six-month periods ended June 30, 2013 and 2012 were calculated using the weighted average number of shares outstanding for the related period. The following table reconciles the number of shares used in the computations of basic and diluted earnings per share for the three-month and six-month periods ended June 30, 2013 and 2012:

	Six Months Ended				Three Months Ended
	June 30,				June 30,
	2013		2012		2013		2012
	(In thousands)				(In thousands)
Weighted average number of common shares outstanding during the period used to compute basic earnings per share		20,989		19,305		20,534		19,360
		$
Incremental common shares attributable to exercise of outstanding options and warrants		10,799		5,331		11,175		3,923
		$
Weighted average number of common shares used to compute diluted earnings per share		31,788		24,636		31,709		23,283

If the anti-dilutive effects of common stock equivalents were considered, shares included in the diluted earnings per share calculation for the three-month and six-month periods ended June 30, 2013 would have included an additional 2.2 million and 1.5 million shares, respectively, attributable to the exercise of outstanding options and warrants. For the three-month and six-month periods ended June 30, 2012, the anti-dilutive shares were 2.1 million and 7.2 million, respectively.