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Net Income Per Common Share
 3 Months Ended
Mar. 31, 2013
Net Income Per Common Share  
Net Income Per Common Share

5. 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,

 

 

 

2013

 

2012

 

Weighted average common basic shares outstanding

 

21,870,771

 

15,563,914

 

Effect of dilutive stock options and restricted stock units

 

—

 

256,204

 

Weighted average common diluted shares outstanding

 

21,870,771

 

15,820,118

 

Net income per share:

 

 

 

 

 

Basic

 

$

(0.01

)

$

0.11

 

Diluted

 

$

(0.01

)

$

0.11

 

 

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.