Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 9 Months Ended
Sep. 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     Nine months ended  
    September 30,
2012		     September 30,
2011		     September 30,
2012		     September 30,
2011		  

Basic weighted average common stock issued and outstanding

     57,845,800       57,071,870       57,613,624       57,023,472  

Dilutive options

     1,101,371       806,068       1,171,015       969,876  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total dilutive shares

     58,947,171       57,877,938       58,784,639       57,993,348  
   

 

 

    

 

 

    

 

 

    

 

 

  

Options to purchase 1,018,900 and 1,018,900 shares were excluded in the three months and nine months ended September 30, 2012, respectively, because they would have been anti-dilutive. Options to purchase 2,490,004 and 2,490,004 shares were excluded in the three months and nine months ended September 30, 2011, respectively, because they would have been anti-dilutive.