Net Income Per Share

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
	(In Thousands, Except Per Share Data)
Basic net income per share:
Net income applicable to common shares	$	1,772	$	793	$	2,297	$	1,102
Weighted average common shares outstanding		10,732		11,137		10,800		11,258
Basic net income per share of common stock	$	0.17	$	0.07	$	0.21	$	0.10
Diluted net income per share:
Net income applicable to common shares	$	1,772	$	793	$	2,297	$	1,102
Weighted average common shares outstanding		10,732		11,137		10,800		11,258
Dilutive effects of stock options		1,501		540		985		422
Weighted average common shares, assuming dilutive effect of stock options		12,233		11,677		11,785		11,680
Diluted net income per share of common stock	$	0.14	$	0.07	$	0.19	$	0.10

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 478 thousand and 1.0 million in the three- and nine-month periods ended September 30, 2013, respectively. The diluted computation would have increased by approximately 1.2 million and 1.3 million, respectively, in the three- and nine-month periods ended September 30, 2012. As of September 30, 2013 and 2012, there were approximately 4.3 million and 4.2 million share-based awards outstanding, respectively, under the Company’s equity plans.