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Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

12. EARNINGS PER SHARE:

Basic earnings per share (“EPS”) were computed by dividing income from continuing operations by the weighted average number of shares of common stock outstanding during the period. Diluted EPS differs from basic EPS due to the assumed conversions of potentially dilutive options and restricted shares that were outstanding during the period. The Company’s Class A common stock and Class B common stock have equal claims on earnings of the Company. The following is a reconciliation of the numerators and the denominators of the basic and diluted per share computations for income from continuing operations.

 

      September 30,       September 30,       September 30,  
    2011     2010     2009  
       

Numerator-

                        

Numerator for basic and diluted earnings per share-

                        

Income from continuing operations available to common shareholders

   $ 55,213,000     $ 24,567,000     $ 5,095,000  
   

 

 

    

 

 

    

 

 

  
       

Denominator-

                        

Denominator for basic earnings per share, weighted average shares

     37,860,551       37,307,453       37,065,654  
       

Effect of dilutive securities-

                        

Stock options and restricted shares

     1,153,846       910,727       530,853  
   

 

 

    

 

 

    

 

 

  
       

Denominator for diluted earnings per share, adjusted weighted average shares and assumed conversions

     39,014,397       38,218,180       37,596,507  
   

 

 

    

 

 

    

 

 

  
       

Basic earnings per common share

   $ 1.46     $ 0.66     $ 0.14  
   

 

 

    

 

 

    

 

 

  
       

Diluted earnings per common share and common share equivalents

   $ 1.42     $ 0.64     $ 0.14  
   

 

 

    

 

 

    

 

 

  

Options to purchase shares of common stock that were outstanding for the years ended December 31, 2011, 2010 and 2009 that were not included in the computation of diluted earnings per share because the effect would have been anti-dilutive are as follows:

 

      September 30,       September 30,       September 30,  
    2011     2010     2009  
       

Options

     533,100       504,830       1,557,356  
   

 

 

    

 

 

    

 

 

  
       

Total anti-dilutive securities

     533,100       504,830       1,557,356