Net Income per Weighted-Average Common Share

3 Months Ended

Mar. 31, 2013

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-month periods ended March 31, 2013, and 2012, 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 dilutive stock options are used to repurchase the Company’s common stock at the average market price for the period.

As of March 31, 2013, and 2012, there were stock options to purchase 1,549,251 shares, and 2,105,924 shares of the Company’s common stock outstanding, respectively, of which stock options to purchase 148,426 shares, and 1,238,880 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 March 31, 2013, and 2012, 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.