Earnings Per Share

9 Months Ended

Sep. 30, 2011

15. Earnings Per Share

The computations of Basic and Diluted Earnings per Share were as follows:

	Three Months Ended				Nine Months Ended
	September 30				September 30
	2011		2010		2011		2010
Numerator:
Net Earnings	$	9,728	$	7,526	$	21,449	$	17,791
Denominator:
Basic - Weighted Average Shares Outstanding		18,741,524		18,873,249		18,881,132		18,782,404
Effect of dilutive securities:
Employee stock options		529,550		529,653		535,929		517,379
Diluted - Weighted Average Shares Outstanding		19,271,074		19,402,902		19,417,061		19,299,783
Basic Earnings per Share	$	0.52	$	0.40	$	1.14	$	0.95
Diluted Earnings per Share	$	0.50	$	0.39	$	1.10	$	0.92

Excluded from the dilutive securities shown above were options to purchase 180,551 and 299,799 shares of Common Stock during the three months ended September 30, 2011 and 2010, respectively. Excluded from the dilutive securities shown above were options to purchase 145,238 and 247,759 shares of Common Stock during the nine months ended September 30, 2011 and 2010, respectively. These exclusions are made if the exercise prices of these options are greater than the average market price of our Common Stock for the period, if the number of shares we can repurchase exceeds the weighted shares outstanding in the options, or if we have a net loss, as the effects are anti-dilutive.