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EXHIBIT 11
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
The following presents the computation of per share earnings reflecting the assumption that dilutive stock options are exercised. |
(IN THOUSANDS EXCEPT PER SHARE DATA) | ||||||||||||
| 2009 | 2008 | 2007 | ||||||||||
| Net earnings (1) | $ | 62,576 | $ | 44,183 | $ | 38,623 | ||||||
| Weighted average common shares outstanding (2) | 6,854 | 6,845 | 6,836 | |||||||||
| Common share equivalents relating to stock options | - | - | - | |||||||||
| Adjusted common and common equivalent | ||||||||||||
| shares for computation (3) | 6,854 | 6,845 | 6,836 | |||||||||
| Net earnings per share: | ||||||||||||
| Basic (1 / 2) | $ | 9.13 | $ | 6.45 | $ | 5.65 | ||||||
| Diluted (1 / 3) | $ | 9.13 | $ | 6.45 | $ | 5.65 | ||||||