Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

 v2.3.0.11
Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Share  
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, 2011      June 30, 2010      June 30, 2011      June 30, 2010  

Basic weighted average common stock issued and outstanding

      57,026,745         56,427,253         56,998,871         56,424,810   

Dilutive options

      994,581         601,245         1,113,696         302,090   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total dilutive shares

      58,021,326         57,028,498         58,112,567         56,726,900   
  

 

 

     

 

 

     

 

 

     

 

 

  

Options to purchase 2,490,004 and 1,320,940 shares were excluded in the three months and six months ended June 30, 2011, respectively, because they would have been anti-dilutive. Options to purchase 1,420,940 and 1,427,606 shares were excluded in the three months and six months ended June 30, 2010 respectively, because they would have been anti-dilutive.