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NET INCOME PER COMMON SHARE
3 Months Ended
Mar. 31, 2013
NET INCOME PER COMMON SHARE  
NET INCOME PER COMMON SHARE

NOTE I — NET INCOME PER COMMON SHARE

 

Basic per common share amounts are computed using the weighted average number of common shares outstanding during the year. Diluted per common share amounts are computed using the weighted average number of common shares outstanding during the year and dilutive potential common shares. Dilutive potential common shares consist of stock options and restricted shares and are calculated using the treasury stock method.

 

Net income per share is computed as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

(In thousands, except share and per share data)

 

2013

 

2012

 

 

 

 

 

 

 

Net income

 

$

9,490

 

$

8,636

 

 

 

 

 

 

 

Shares of common stock outstanding used to compute basic per common share amounts

 

34,598,494

 

34,036,539

 

Effect of dilutive restricted stock and options (1)

 

467,538

 

603,121

 

Shares used to compute dilutive per common share amounts

 

35,066,032

 

34,639,660

 

 

 

 

 

 

 

Basic income per share

 

$

0.27

 

$

0.25

 

Diluted income per share

 

$

0.27

 

$

0.25

 

 

(1) There were no anti-dilutive options for the three months ended March 31, 2013 and 2012.