Net Income Per Share

6 Months Ended

Jun. 30, 2012

Net Income Per Share [Abstract]

Net income per share

10. Net income per share

Net income per share is based upon the net income divided by weighted average number of shares outstanding during the period. Net income per share assuming dilution is based upon the net income divided by weighted average number of shares and share equivalents outstanding, including the potentially dilutive impact of stock options and restricted stock rights/units issued under the Company’s incentive plans. Common stock options and restricted stock rights/units are converted using the treasury stock method.

Basic and diluted net income per share has been computed as follows (in thousands, except per-share amounts):

	Three months ended June 30,				Six months ended June 30,
	2012		2011		2012		2011
Income from continuing operations, net of income taxes	$	4,282	$	3,542	$	2,418	$	1,823
Income from discontinued operations, net of income taxes		—		74		—		66
Net income	$	4,282	$	3,616	$	2,418	$	1,889
Weighted average shares outstanding		8,874		8,834		8,860		8,822
Weighted effect of dilutive options and rights		54		61		76		70
Weighted average shares outstanding assuming dilution		8,928		8,895		8,936		8,892
Net income per share:
From continuing operations	$	0.48	$	0.40	$	0.27	$	0.21
From discontinued operations		—		0.01		—		0.01
Net income per share	$	0.48	$	0.41	$	0.27	$	0.21
Net income per share assuming dilution:
From continuing operations	$	0.48	$	0.40	$	0.27	$	0.21
From discontinued operations		—		0.01		—		0.01
Net income per share	$	0.48	$	0.41	$	0.27	$	0.21

For the three months ended June 30, 2012, the effect of zero restricted stock rights/units and options to purchase 263,740 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive. For the six months ended June 30, 2012, the effect of zero restricted stock rights/units and options to purchase 257,257 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive.

For the three months ended June 30, 2011, the effect of zero restricted stock rights/units and options to purchase 212,709 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive. For the six months ended June 30, 2011, the effect of 380 restricted stock rights/units and options to purchase 212,100 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive.