7. Earnings Per Share

9 Months Ended

Sep. 30, 2013

Earnings per share:

Earnings Per Share

Earnings per share for the three-month and nine-month periods ended September 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 nine-month periods ended September 30, 2013 and 2012:

	Three Months Ended				Nine Months Ended
	September 30,				September 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		21,795		19,495		20,959		19,406
Incremental common shares attributable to exercise of outstanding options and warrants		9,422		6,200		10,591		4,620
Weighted average number of common shares used to compute diluted earnings per share		31,217		25,695		31,550		24,026

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 nine-month periods ended September 30, 2013 would have included an additional 3.1 million and 1.9 million shares, respectively, attributable to the exercise of outstanding options and warrants. For the three-month and nine-month periods ended September 30, 2012, the anti-dilutive shares were 1.3 million and 2.3 million, respectively.