Earnings Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 2 – Earnings per share  

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted EPS is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which include stock options and restricted stock units (“RSUs”), is computed using the treasury stock method.  

The reconciliation of the denominators used to calculate basic EPS and diluted EPS for the three and six month periods ended June 30, 2013 and 2012, are as follows:

	Three Months Ended June 30,		Six Months Ended June 30,
	(In thousands)		(In thousands)
	(Unaudited)		(Unaudited)
	2013	2012	2013	2012
Weighted average shares outstanding-basic	124,377	121,801	123,845	121,360
Plus: Common share equivalents
Stock options, RSUs	893	958	979	1,016
Weighted average shares outstanding-diluted	125,270	122,759	124,824	122,376

Stock awards to acquire 538,100 and 4,300 shares for the three months ended June 30, 2013 and 2012, respectively, and 183,500 and 74,900 shares for the six month period ended June 30, 2013 and 2012, respectively, were excluded in the computations of diluted EPS because the effect of including the stock awards would have been anti-dilutive.