Net Income Per Share

9 Months Ended

Sep. 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 September 30,					Nine months ended September 30,
	2012		2011			2012		2011
Income from continuing operations, net of income taxes	$	2,200	$	1,519		$	4,618	$	3,342
Loss from discontinued operations, net of income taxes		—		(75	)		—		(9	)
Net income	$	2,200	$	1,444		$	4,618	$	3,333
Weighted average shares outstanding		8,878		8,836			8,866		8,827
Weighted effect of dilutive options and rights		80		64			83		71
Weighted average shares outstanding assuming dilution		8,958		8,900			8,949		8,898
Net income (loss) per share:
From continuing operations	$	0.25	$	0.17		$	0.52	$	0.38
From discontinued operations		—		(0.01	)		—		—
Net income per share	$	0.25	$	0.16		$	0.52	$	0.38
Net income (loss) per share assuming dilution:
From continuing operations	$	0.25	$	0.17		$	0.52	$	0.38
From discontinued operations		—		(0.01	)		—		(0.01	)
Net income per share	$	0.25	$	0.16		$	0.52	$	0.37

For the three months ended September 30, 2012, the effect of options to purchase 148,560 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive. For the nine months ended September 30, 2012, the effect of options to purchase 181,071 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 September 30, 2011, the effect of options to purchase 204,994 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive. For the nine months ended September 30, 2011, the effect of 53 restricted stock rights/units and options to purchase 209,706 shares are excluded from the calculation of weighted average shares outstanding because such rights/units and options were anti-dilutive.