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Common and Common Equivalent Shares
 6 Months Ended
Jun. 30, 2011
Common and Common Equivalent Shares  
Common and Common Equivalent Shares
8. Common and Common Equivalent Shares:

Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of common and potential common shares outstanding during the applicable period. Potential common shares consist of outstanding options and non-vested restricted and deferred stock calculated using the treasury stock method. Under the treasury stock method, the Company includes the assumed excess tax benefits related to the potential exercise or vesting of its stock-based awards using the difference between the average market price for the applicable period less the option price, if any, and the fair value of the stock-based award on the date of grant multiplied by the applicable tax rate.

The calculation of shares used in the basic and diluted net income per share calculation for the three and six months ended June 30, 2011 and 2010 is as follows (in thousands):

 

     Three Months Ended
June  30,		      Six Months Ended
June  30,		  
     2011      2010      2011      2010  

Weighted average number of common shares outstanding

      47,531         46,516         47,341         46,409   

Weighted average number of dilutive common share equivalents

      1,199         1,012         1,206         989   
                                   

Weighted average number of common and common equivalent shares outstanding

      48,730         47,528         48,547         47,398   
                                   

Antidilutive securities not included in the dilutive earnings per share calculation

      63         155         50         415