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Common and Common Equivalent Shares
 9 Months Ended
Sep. 30, 2013
Earnings Per Share [Abstract]  
Common and Common Equivalent Shares
7. 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 nine months ended September 30, 2013 and 2012 is as follows (in thousands):

 

     Three Months Ended
September 30,		      Nine Months Ended
September 30,		  
     2013      2012      2013      2012  

Weighted average number of common shares outstanding

      49,753         48,938         49,511         48,569   

Weighted average number of dilutive common share equivalents

      836         871         970         1,001   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average number of common and common equivalent shares outstanding

      50,589         49,809         50,481         49,570   
  

 

 

     

 

 

     

 

 

     

 

 

  

Antidilutive securities not included in the dilutive earnings per share calculation

      —           38         23         35