| Earnings Per Share (EPS) |
2. Earnings Per Share (EPS)
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June 30, 2011 |
|
| |
|
Income |
|
|
Shares |
|
|
Per-Share |
|
| |
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
Basic EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
14,173,000 |
|
|
|
116,144,818 |
|
|
$ |
0.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options and restricted stock
|
|
|
|
|
|
|
1,108,770 |
|
|
$ |
— |
|
| |
|
Diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
14,173,000 |
|
|
|
117,253,588 |
|
|
$ |
0.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2011 |
|
| |
|
Income |
|
|
Shares |
|
|
Per-Share |
|
| |
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
Basic EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
19,001,000 |
|
|
|
115,634,881 |
|
|
$ |
0.16 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options and restricted stock
|
|
|
|
|
|
|
1,115,836 |
|
|
$ |
— |
|
| |
|
Diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
19,001,000 |
|
|
|
116,750,717 |
|
|
$ |
0.16 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended June 30, 2010 |
|
| |
|
Income |
|
|
Shares |
|
|
Per-Share |
|
| |
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
Basic EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$ |
507,000 |
|
|
|
114,298,319 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options and restricted stock
|
|
|
|
|
|
|
1,130,330 |
|
|
$ |
— |
|
| |
|
Diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$ |
507,000 |
|
|
|
115,428,649 |
|
|
$ |
0.00 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Six Months Ended June 30, 2010 |
|
| |
|
Income |
|
|
Shares |
|
|
Per-Share |
|
| |
|
(Numerator) |
|
|
(Denominator) |
|
|
Amount |
|
|
Basic EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$ |
(1,544,000 |
) |
|
|
113,909,798 |
|
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Effect of dilutive securities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock options and restricted stock
|
|
|
|
|
|
|
— |
|
|
$ |
— |
|
| |
|
Diluted EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss
|
|
$ |
(1,544,000 |
) |
|
|
113,909,798 |
|
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
All options outstanding during the three months ended June 30, 2011 were included in the
computation of diluted EPS as the options’ exercise prices were less than the average market
price of the common shares. For the six months ended June 30, 2011, options to purchase 15,000
shares at an exercise price of $5.91 were excluded from the calculation of diluted EPS because
the options’ exercise prices were greater than the average market price of the common shares for
the six month period and therefore would have been anti-dilutive. For the three months ended
June 30, 2010, all stock options outstanding were included in the computation of diluted EPS as
the options’ exercise prices were less than the average market price of the common shares. For
the six months ended June 30, 2010, all outstanding options were excluded from the calculation
of diluted EPS as the company incurred a loss for the period and, therefore, inclusion of
outstanding options in the calculation of diluted EPS would be anti-dilutive. |
|