Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.8
Earnings Per Share
 6 Months Ended
Jun. 30, 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,      Six months ended,  
     June 30, 2013      June 30, 2012      June 30, 2013      June 30, 2012  

Basic weighted average common stock issued and outstanding

      57,900,809         57,797,484         57,903,871         57,496,261   

Dilutive options

      659,475         1,202,808         881,937         1,204,568   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total dilutive shares

      58,560,284         59,000,292         58,785,808         58,700,829   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

Options to purchase 3,205,865 and 2,135,300 shares were excluded in the three months and six months ended June 30, 2013, respectively, because they would have been anti-dilutive. Options to purchase 1,018,900 and 1,018,900 shares were excluded in the three months and six months ended June 30, 2012, respectively, because they would have been anti-dilutive.