Net Income Per Common Share

9 Months Ended

Sep. 30, 2014

Net Income Per Common Share

3. Net Income Per Common Share

Basic net income per common share is based on the weighted average number of shares of common stock outstanding during the period.  Diluted net income per common share increases the shares used in the per share calculation by the dilutive effects of options and restricted stock.  Stock options are not included in the computation of diluted earnings per share when their effect is anti-dilutive.  There were 358,940 and 214,579 anti-dilutive stock options excluded from the calculation for the three and nine months ended September 30, 2014, respectively, compared to 0 and 169,837 anti-dilutive stock options excluded from the calculation for the three and nine month periods ended September 30, 2013, respectively.