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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2011

Earnings Per Share

Earnings Per Share

18.  EARNINGS PER SHARE

Earnings per share (EPS) are as follows (amounts in thousands, except per share data):

		Three months ended,
		June 30, 2011												June 30, 2010
		Titan Net Income				Weighted average shares				Per share amount				Titan Net Income				Weighted average shares				Per share amount
Basic EPS		$	25,285				41,981			$	.60			$	4,569				34,815			$	.13
Effect of stock options/trusts			0				330								0				549
Effect of convertible notes			1,091				11,083								1,614				16,043
Diluted EPS		$	26,376				53,394			$	.49			$	6,183				51,407			$	.12

		Six months ended,
		June 30, 2011												June 30, 2010
		Titan Net Income				Weighted average shares				Per share amount				Titan Net Income				Weighted average shares				Per share amount
Basic EPS		$	22,249				41,250			$	.54			$	6,647				34,794			$	.19
Effect of stock options/trusts			0				314								0				553
Effect of convertible notes			2,294				11,665								0				0
Diluted EPS		$	24,543				53,229			$	.46			$	6,647				35,347			$	.19

The effect of convertible notes has been excluded for the six months ended June 30, 2010, as the effect would have been antidilutive.  The weighted average share amount excluded for convertible notes totaled 16.0 million shares.  There were no stock options/trusts that were antidilutive for the periods presented.

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1252-109256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=6945512&loc=d3e4984-109258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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-Section 45
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-URI http://asc.fasb.org/extlink&oid=6920599&loc=d3e1278-109256

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
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