Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

11. Earnings Per Share

Set forth below is a reconciliation of the numerator and denominator for basic and diluted earnings per share calculations for the periods indicated:

Year ended December 31,	2012		2011		2010
Numerator:
Net income	$	70,629	$	40,015	$	28,255
Denominator:
Weighted average number of common shares outstanding - Basic		19,160,849		18,919,489		19,032,557
Dilutive effect of options and restricted stock units outstanding under the Company's employee compensation plans		474,392		232,909		266,636
Weighted average number of common shares outstanding - Diluted		19,635,241		19,152,398		19,299,193

The dilutive effect of outstanding options and restricted stock units is calculated using the treasury stock method. The weighted average number of common shares outstanding decreased from the previous year in 2011 and 2010 as a result of the Company's stock repurchase plans, which were authorized by the Board of Directors in 2008 and 2010. See Note 12 for further information.

There are no anti-dilutive stock options in 2012, 2011, and 2010 because the closing price of the Company's stock on December 31, 2012, 2011, and 2010 exceeded the strike price of all outstanding options on that date.