Forward Air Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Income Per Share

Net Income Per Share

9 Months Ended

Sep. 30, 2011

7.	Net Income Per Share

The following table sets forth the computation of basic and diluted net income per share:

	Three months ended				Nine months ended
	September 30,		September 30,		September 30,		September 30,
	2011		2010		2011		2010
Numerator:
Numerator for basic and diluted income per share - net income	$	12,912	$	8,888	$	32,750	$	20,219

Denominator (in thousands):
Denominator for basic income per share - weighted-average shares		29,237		29,000		29,236		28,975
Effect of dilutive stock options and non-vested shares		315		129		355		126
Denominator for diluted income per share - adjusted weighted-average shares		29,552		29,129		29,591		29,101
Basic net income per share	$	0.44	$	0.31	$	1.12	$	0.70
Diluted net income per share	$	0.44	$	0.31	$	1.11	$	0.69

The number of options and non-vested shares that could potentially dilute net earnings per share in the future, but that were not included in the computation of income per diluted share because to do so would have been anti-dilutive for the periods presented, were approximately 912,000 and 1,250,000 at September 30, 2011 and 2010, respectively.