NET EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2015

NOTE 8 – NET EARNINGS PER SHARE

The following presents a reconciliation of the net earnings and shares used in calculating basic and diluted net earnings per share:

Three months ended June 30, 2015	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	14,916		31,111,155	$	.48

Effect of dilutive securities – stock options and restricted stock				521,119

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	14,916		31,632,274	$	.47

Three months ended June 30, 2014	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	9,732		30,280,366	$	.32

Effect of dilutive securities – stock options and restricted stock				869,413

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	9,732		31,149,779	$	.31

Six months ended June 30, 2015	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	30,088		30,976,681	$	.97

Effect of dilutive securities – stock options and restricted stock				547,925

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	30,088		31,524,606	$	.95

Six months ended June 30, 2014	Net Earnings (Numerator)		Number of Shares (Denominator)		Per Share Amount
Basic EPS – Net earnings and weighted average common shares outstanding	$	18,626		30,213,536	$	.62

Effect of dilutive securities – stock options and restricted stock				898,153

Diluted EPS – Net earnings and weighted average common shares outstanding and effect of stock options and restricted stock	$	18,626		31,111,689	$	.60

The Company had stock options covering 259,872 and 154,476 shares at June 30, 2015 and 2014, respectively, that could potentially dilute basic earnings per share in future periods that were not included in diluted earnings per share because their effect on the period presented was anti-dilutive.

The Company has some share-based payment awards that have forfeitable dividend rights. These awards are restricted shares and performance shares and they participate on a one-for-one basis with holders of common stock. These awards have an immaterial impact as participating securities with regard to the calculation using the two-class method for determining earnings per share.