Net IncomeNet income increased 3.8% year-over-year to $37.3 million, from $35.9 million in the third quarter of last year. Non-GAAP net income increased 7.4% year-over-year to $42.5 million, from $39.5 million in the third quarter of last year. Net margin was 17.1%, down from 21.4% in the third quarter of 2010 and 20.6% in the second quarter of this year. Non-GAAP net margin was 19.4%, compared to 23.5% in the third quarter of 2010 and 22.9% in the second quarter of this year. Income tax expenses in the third quarter were $7.5 million, representing an effective tax rate of 16.6%.

Third-quarter 2011 basic and diluted earnings per share were $0.32 and $0.31 respectively, compared to $0.31 and $0.30 in the same period last year. Basic and diluted non-GAAP earnings per share were $0.36 and $0.36 respectively, compared to $0.35 and $0.34 in the third quarter of last year. Shares used in the computation of diluted earnings per share for this quarter were 119
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