Net Income Per Share

6 Months Ended

Jun. 30, 2013

Earnings Per Share [Abstract]

Net Income Per Share

9. NET INCOME PER SHARE:

A reconciliation of net income and weighted average shares used in computing basic and diluted net income per share is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2013		2012		2013		2012
	(In Thousands, Except Per Share Data)
Basic net income per share:
Net income applicable to common shares	$	1,414	$	134	$	525	$	309
Weighted average common shares outstanding		10,791		11,288		10,834		11,319
Basic net income per share of common stock	$	0.13	$	0.01	$	0.05	$	0.03
Diluted net income per share:
Net income applicable to common shares	$	1,414	$	134	$	525	$	309
Weighted average common shares outstanding		10,791		11,288		10,834		11,319
Dilutive effects of stock options		637		548		612		363
Weighted average common shares, assuming dilutive effect of stock options		11,428		11,836		11,447		11,682
Diluted net income per share of common stock	$	0.12	$	0.01	$	0.05	$	0.03

Share-based awards, inclusive of all grants made under the Company’s equity plans, for which either the stock option exercise price or the fair value of the restricted share award exceeds the average market price over the period, have an anti-dilutive effect on earnings per share, and accordingly, are excluded from the diluted computations for all periods presented. Had such shares been included, shares for the diluted computation would have increased by approximately 1.6 million and 1.7 million in the three- and six-month periods ended June 30, 2013, respectively. The diluted computation would have increased by approximately 813 thousand and 959 thousand, respectively, in the three- and six-month periods ended June 30, 2012. As of June 30, 2013 and 2012, there were approximately 4.3 million and 3.9 million share-based awards outstanding, respectively, under the Company’s equity plans.