Net Income Per Common Share

3 Months Ended

Mar. 31, 2012

Net Income Per Common Share

Net Income Per Common Share

3. Net Income Per Common Share

Companies are required to present basic and diluted earnings per share. Basic net income per share is computed by dividing net income by the weighted daily average number of shares of common stock outstanding during the period. Diluted net income per share is based upon the weighted daily average number of shares of common stock outstanding for the period plus dilutive potential common shares, including stock options and restricted stock units using the treasury-stock method.

A reconciliation of the weighted average basic common shares outstanding to the weighted average diluted common shares outstanding is as follows (unaudited):

	Three Months Ended March 31
	2012		2011
Weighted average common basic shares outstanding	15,563,914		15,790,875
Effect of dilutive stock options and restricted stock units	256,204		355,231
Weighted average common diluted shares outstanding	15,820,118		16,146,106
Net income per share:
Basic	$	0.14	$	0.24
Diluted	$	0.14	$	0.23

There were no anti-dilutive options for the three months ended March 31, 2012 and 2011.

There are no additional securities that could dilute basic earnings per share in the future that were not included in the computation of diluted earnings per share, other than those disclosed.