EARNINGS PER SHARE
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Sep. 30, 2012
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EARNINGS PER SHARE | 3. EARNINGS PER SHARE Diluted earnings per share is based on the weighted average outstanding common shares during each period, including common stock equivalents. Basic earnings per share is based on the weighted average outstanding common shares during the period. Basic and diluted earnings per share, based on the weighted average outstanding shares, are summarized as follows:
The Company had 1,057,116 and 2,092,932 stock options outstanding as of September 30, 2012 and December 31, 2011, respectively, that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive. |