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Common Stock And Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Common Stock And Earnings Per Share  
Common Stock And Earnings Per Share

Note 11 – Common Stock and Earnings per Share

In connection with the 2009 Equity Incentive Plan described above, we issued 102 shares of restricted common stock during the three months ended March 31, 2011 and 296 shares during the three months ended June 30, 2011.

Basic earnings per share is based on the weighted average number of shares outstanding and excludes the dilutive effect of unexercised common stock equivalents. Diluted earnings per share is based on the weighted average number of shares outstanding and includes the dilutive effect of unexercised common stock equivalents to the extent they are not anti-dilutive. The details of the earnings per share calculations for the three and six month periods ended June 30, 2011 and 2010 follow:

 

     Three months
ended June 30,		      Six months
ended June 30,		  
     2011      2010      2011      2010  

Net income

    $ 2,621       $ 1,396       $ 5,121       $ 1,969   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares outstanding

            

Basic

      37,532         37,404         37,526         37,400   

Incremental shares with dilutive effect:

            

Stock options

      950         755         910         788   

Restricted stock awards

      270         42         175         54   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted

      38,752         38,201         38,611         38,242   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income per share

            

Basic

    $ 0.07       $ 0.04       $ 0.14       $ 0.05   

Diluted

    $ 0.07       $ 0.04       $ 0.13       $ 0.05