Net Income Per Common Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

Net income per common share, as shown on the Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the period as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2012	2011	2012	2011
Weighted average common shares outstanding
Basic	33,746,824	34,354,210	33,592,984	34,938,806
Dilutive effect of stock options and restricted stock	664,830	106,742	663,469	89,607
Weighted average common shares outstanding diluted	34,411,654	34,460,952	34,256,453	35,028,413

Options to purchase 212,000 shares of common stock that were outstanding for both the three month period and nine month period ended September 30, 2012, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and their effect would be anti-dilutive. Options to purchase 692,810 and 1,159,679 shares of common stock that were outstanding for the three and nine months ended September 30, 2011, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and their effect would be anti-dilutive.