Annual report pursuant to Section 13 and 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 12 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
EARNINGS PER SHARE

NOTE 9—EARNINGS PER SHARE

Earnings per share computations are based upon the following table:

 

                         
(In thousands, except per share data)   2011     2010     2009  

Net Income (Loss)

   $ 21,591     $ 14,948     $ (3,802 ) 
   

 

 

    

 

 

    

 

 

  

Basic earnings weighted average shares

     12,138       11,924       11,806  

Net effect of dilutive stock options

     773       488       —    
   

 

 

    

 

 

    

 

 

  

Diluted earnings weighted average shares

     12,911       12,412       11,806  
   

 

 

    

 

 

    

 

 

  

Basic earnings (loss) per share

     1.78       1.25       (0.32 ) 
   

 

 

    

 

 

    

 

 

  

Diluted earnings (loss) per share

     1.67       1.20       (0.32 ) 
   

 

 

    

 

 

    

 

 

  

There is no dilutive effect of the stock options for the year ended December 31, 2009 since the impact would be anti-dilutive.