XML 19 R14.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Earnings Per Common Share
 6 Months Ended
Jun. 30, 2011
Earnings Per Common Share  
Earnings Per Common Share

Note 6 – Earnings Per Common Share

A reconciliation of the numerator and denominator of basic and diluted earnings per common share is as follows:

 

     Three months ended June 30, 2011  
     Income
(Numerator)		      Shares
(Denominator)		      Per-share
Amount		  

Net income

    $ 9,828,000         
              

Basic earnings per common share

    $ 9,828,000         66,517,000       $ .15   

Effect of dilutive securities:

         

Options

         1,028,000         —     
                          

Diluted earnings per common share

    $ 9,828,000         67,545,000       $ .15   
                          
     Three months ended June 30, 2010  
     Income
(Numerator)		      Shares
(Denominator)		      Per-share
Amount		  

Net income

    $ 8,721,000         
              

Basic earnings per common share

    $ 8,721,000         65,948,000       $ .13   

Effect of dilutive securities:

         

Options

         1,030,000         —     
                          

Diluted earnings per common share

    $ 8,721,000         66,978,000       $ .13   
                          
     Six Months ended June 30, 2011  
     Income
(Numerator)		      Shares
(Denominator)		      Per-share
Amount		  

Net income

    $ 17,595,000         
              

Basic earnings per common share

    $ 17,595,000         66,459,000       $ .26   

Effect of dilutive securities:

         

Options

         1,040,000         —     
                          

Diluted earnings per common share

    $ 17,595,000         67,499,000       $ .26   
                          
     Six Months ended June 30, 2010  
     Income
(Numerator)		      Shares
(Denominator)		      Per-share
Amount		  

Net income

    $ 16,149,000         
              

Basic earnings per common share

    $ 16,149,000         65,898,000       $ .25   

Effect of dilutive securities:

         

Options

         1,085,000         (.01 ) 
                          

Diluted earnings per common share

    $ 16,149,000         66,983,000       $ .24   
                          

 

Options to purchase 508,000 and 494,000 shares of common stock having an average exercise price of approximately $16.11 per common share were outstanding during the three and six month periods ended June 30, 2011 but not included in the computation of diluted earnings per common share because the exercise price of those options were greater than the average market price of the common shares, and therefore, would be anti-dilutive.

Options to purchase 666,000 and 656,000 shares of common stock having an average exercise price of approximately $14.14 per common share were outstanding during the three and six month periods ended June 30, 2010 but not included in the computation of diluted earnings per common share because the exercise price of those options were greater than the average market price of the common shares, and therefore, would be anti-dilutive.