Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 6 Months Ended
Jun. 30, 2012
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, 2012     June 30, 2011     June 30, 2012     June 30, 2011  

Basic weighted average common stock issued and outstanding

     57,797,484       57,026,745       57,496,261       56,998,871  

Dilutive options

     1,202,808       994,581       1,204,568       1,113,696  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total dilutive shares

     59,000,292       58,021,326       58,700,829       58,112,567  
   

 

 

    

 

 

    

 

 

    

 

 

  

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. 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.