Net Income per Weighted-Average Common Share

6 Months Ended

Jun. 30, 2012

Net Income per Weighted-Average Common Share

5. Net Income per Weighted-Average Common Share

The computations of basic and diluted net income per weighted-average common share for the three and six-month periods ended June 30, 2012 and 2011, are based on the Company’s weighted-average shares of common stock and potentially dilutive securities outstanding. Potentially dilutive securities are calculated in accordance with the treasury stock method, which assumes the proceeds from the exercise of all stock options are used to repurchase the Company’s common stock at the average market price for the period.

As of June 30, 2012, and 2011, there were stock options to purchase 2,012,378 shares, and 2,038,787 shares of the Company’s common stock outstanding, respectively, of which stock options to purchase 1,295,172 shares, and 869,397 shares of the Company’s common stock, respectively, were excluded from the computation of the diluted net income per weighted-average common share for the three-month periods ended June 30, 2012, and 2011, respectively, either because the stock options’ exercise prices were greater than the average market price of the Company’s common shares or assumed repurchases from proceeds from the stock options’ exercise were antidilutive.