Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
EARNINGS PER SHARE
2. EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated using the average number of shares of common stock outstanding during each period. Diluted EPS assumes the exercise of all stock options having exercise prices less than the average market price of the common stock using the treasury stock method.

 

Diluted shares consist of the following:

 

                 
    Three months ended,  
    March 31,
2013		     March 31,
2012		  

Basic weighted average common stock issued and outstanding

     57,906,967       57,195,037  

Dilutive options

     1,163,025       1,112,491  
   

 

 

    

 

 

  

Total dilutive shares

     59,069,992       58,307,528  
   

 

 

    

 

 

  

Options to purchase 1,018,900 and 1,023,900 shares were excluded in the quarters ended March 31, 2013 and 2012, respectively, because they would be anti-dilutive.