Earnings Per Share

12 Months Ended

Dec. 31, 2011

Earnings Per Share

10. Earnings Per Share

Earnings per share is computed in accordance with ASC 260, Earnings per Share. Basic earnings per share is computed on the basis of weighted average outstanding common shares. Diluted earnings per share is computed on the basis of basic weighted average outstanding common shares adjusted for the dilutive effect of stock options and other outstanding dilutive securities.

The following table reconciles the average share amounts used to compute both basic and diluted earnings per share (in thousands):

		September 30,		September 30,		September 30,
	Years Ended December 31,
	2011		2010		2009
Weighted average share outstanding:
Basic weighted average shares outstanding		33,457		33,560		34,368
Add: Dilutive effect of stock options, restricted stock awards and other dilutive securities		738		310		186
Diluted weighted average shares outstanding		34,195		33,870		34,554

For the years ended December 31, 2011, 2010 and 2009, 3.3 million, 5.4 million and 5.6 million, respectively, options to purchase shares, contingently issuable shares, and common stock warrants were excluded from the diluted net income per share computation as their effect would be anti-dilutive.