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Note 9 - Earnings Per Share
 3 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

9. Earnings Per Share


Basic earnings per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period, exclusive of restricted shares. Except where the result would be anti-dilutive, diluted earnings per share is calculated by assuming the vesting of unvested restricted stock and the exercise of stock options, as well as their related income tax benefits. The following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share:


   

Three Months Ended March 31,

 
   

2015

   

2014

 
                 

Net income (numerator)

  $ 19,685     $ 34,701  

Weighted average shares (denominator)

               

Basic

    68,806,337       68,421,800  

Dilutive effect of stock compensation awards (1)

    1,282,598       1,586,690  

Diluted

    70,088,935       70,008,490  

Net income per share

               

Basic

  $ 0.29     $ 0.51  

Diluted

  $ 0.28     $ 0.50  

(1) Excludes approximately 89,100 stock options and 200 shares of restricted stock for the three month period ended March 31, 2015, as the impact of such awards was anti-dilutive. Excludes approximately 22,000 stock options and 400 shares of restricted stock for the three month period ended March 31, 2014, as the impact of such awards was anti-dilutive.