Net Income Per Common Share

9 Months Ended

Sep. 30, 2013

Net Income Per Common Share

Net Income Per Common Share

4. 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 EndedSeptember 30,				Nine Months EndedSeptember 30,
	2013		2012		2013		2012
Weighted average common basic shares outstanding	21,911,574		15,668,129		21,890,861		15,632,817
Effect of dilutive stock options and restricted stock units	374,149		260,556		335,169		250,718
Weighted average common diluted shares outstanding	22,285,723		15,928,685		22,226,030		15,883,535
Net income per share:
Basic	$	0.17	$	0.14	$	0.32	$	0.51
Diluted	$	0.17	$	0.14	$	0.31	$	0.50

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.