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 O – EARNINGS PER SHARE

     Basic earnings per share are based on the weighted-average number of shares outstanding for each period. Shares that have been repurchased and retired during the periods specified below have been included in the calculation of the number of weighted-average shares that are outstanding for the calculation of basic earnings per share. Diluted earnings per common share are based on shares that are outstanding (computed under basic EPS) and on potentially dilutive shares. Shares that are included in the diluted earnings per share calculations under the treasury stock method include equity awards that are in-the-money but have not yet been exercised.

  Year ended
  2009 2010 2011
 
Net earnings available to common shareholders $ 33,556   $ 45,651   $ 50,752  
Basic EPS                  
Shares                  
Common shares outstanding entire period   15,350     15,309     15,985  
Weighted average common shares:                  
Issued during period   4     311     32  
Canceled during period   (14 )   (92 )   (656 )
Weighted average common shares outstanding during                  
period   15,340     15,528     15,361  
 
Earnings per common share from net earnings - basic $ 2.19   $ 2.94   $ 3.30  
Diluted EPS                  
Shares                  
Weighted average common shares outstanding during                  
period - basic   15,340     15,528     15,361  
Dilutive effect of in-the-money equity awards   92     414     213  
Weighted average common shares outstanding during                  
period - diluted   15,432     15,942     15,574  
 
Earnings per common share from net earnings - diluted $ 2.17   $ 2.86   $ 3.26  

 

     Equity awards for 1,541 shares, 1,289 shares, and 1,546 shares of stock were not included in the computation of EPS for the years ended 2009, 2010, and 2011, respectively, due to their exercise prices being greater than the average market price of the shares.

     During the years ended January 2, 2010, January 1, 2011, and December 31, 2011, the Company expended $1,654, $17,031, and $33,459 to purchase 54 shares, 387 shares, and 1,120 shares, respectively, under the Company's share repurchase plan. The purchase of shares under this plan reduces the number of shares outstanding in the above calculations.