Earnings Per Share

3 Months Ended

Mar. 31, 2012

Note 10. Earnings Per Share

The following are reconciliations of the earnings available to common stockholders and the shares used in calculating basic and dilutive net earnings per common share (in thousands, except per share data):

	Three Months Ended
	March 31,
Basic Net Earnings Per Common Shares:	2012			2011
Earnings from continuing operations	$	5,494		$	7,011
Loss from discontinued operation		(300	)		(304	)
Net earnings available to common stockholders	$	5,194		$	6,707

Weighted average common shares outstanding		22,868			22,706

Earnings from continuing operations per common share	$	0.24		$	0.31
Loss from discontinued operation per common share		(0.01	)		(0.01	)
Basic net earnings per common share	$	0.23		$	0.30

Diluted Net Earnings Per Common Share:
Earnings from continuing operations	$	5,494		$	7,011
Loss from discontinued operation		(300	)		(304	)
Earnings available to common stockholders	$	5,194		$	6,707

Weighted average common shares outstanding		22,868			22,706
Plus incremental shares from assumed conversions:
Dilutive effect of restricted and performance stock		224			142
Dilutive effect of stock options		12			9
Weighted average common shares outstanding - Diluted		23,104			22,857

Net earnings from continuing operations per common share	$	0.24		$	0.31
Loss from discontinued operation per common share		(0.02	)		(0.02	)
Diluted net earnings per common share	$	0.22		$	0.29

The shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or because they were excluded under the treasury method (in thousands):

	Three Months Ended
	March 31,
	2012		2011
Stock options		22		249
Restricted and performance shares		210		170
15% convertible subordinated debentures		-		820

- Definition

The entire disclosure for earnings per share.

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