Net Income Per Common Share

12 Months Ended

Dec. 31, 2011

Net Income Per Common Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

Net income per common share, as shown on the Consolidated Statements of Income (Loss), is determined on the basis of the weighted average number of common shares outstanding during the periods as follows:

	2011		2010		2009
Weighted average common shares outstanding
Basic		34,584,558		35,304,817		35,266,939
Dilutive effect of stock options		158,985		—		—
Weighted average common shares outstandng diluted		34,743,543		35,304,817		35,266,939

Options to purchase 1,105,229 shares of common stock that were outstanding at December 31, 2011 and 1,681,169 shares of common stock that were outstanding at December 31, 2009 were not included in the computation of diluted earnings per share as the exercise prices of these options was greater than the average market price of common shares. There were 58,555 dilutive common shares at December 31, 2010 excluded from the computation of the loss per common share due to the Company’s net loss for the year then ended.