The following table sets forth the computation of basic and diluted earnings per share:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2012 |
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2011 |
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2012 |
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2011 |
(a) Net income |
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$ |
3,799 |
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$ |
19,877 |
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$ |
4,287 |
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$ |
24,041 |
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(b) Weighted average shares outstanding |
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39,399 |
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39,225 |
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39,375 |
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36,485 |
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Dilutive impact of stock options |
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7 |
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22 |
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14 |
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24 |
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Dilutive impact of restricted stock |
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749 |
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597 |
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815 |
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682 |
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(c) Weighted average shares outstanding for diluted net income per share |
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40,155 |
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39,844 |
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40,204 |
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37,191 |
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Basic net income per share (a/b) |
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$ |
0.10 |
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$ |
0.51 |
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$ |
0.11 |
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$ |
0.66 |
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Diluted net income per share (a/c) |
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$ |
0.09 |
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$ |
0.50 |
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$ |
0.11 |
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$ |
0.65 |
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The following were excluded from the diluted EPS calculation because their effect would be anti-dilutive: |
Stock options |
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67 |
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67 |
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52 |
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67 |
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Restricted stock |
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1,013 |
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675 |
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1,013 |
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675 |
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