Earnings Per Share

9 Months Ended

Sep. 30, 2011

Notes to Financial Statements

Earnings Per Share

4. Earnings Per Share

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive.

The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per common share.

	Net		Per Share
	Income		Shares		Amount
Basic net income per common share for the
three months ended September 30, 2011:
Income available to common stockholders	$	63,133		11,196,760	$	0.01
Effect of dilutive stock options		—		36,553		—
Diluted net income per common share for the
three months ended September 30, 2011:	$	63,133		11,233,313	$	0.01
Basic net income per common share for the
three months ended September 30, 2010:
Income available to common stockholders	$	42,383		11,196,760	$	0.00
Effect of dilutive stock options		—		27,761		—
Diluted net income per common share for the
three months ended September 30, 2010:	$	42,383		11,224,521	$	0.00
Basic net income per common share for the
nine months ended September 30, 2011:
Income available to common stockholders	$	101,320		11,196,760	$	0.01
Effect of dilutive stock options		—		23,535		—
Diluted net income per common share for the
nine months ended September 30, 2011:	$	101,320		11,220,295	$	0.01
Basic net income per common share for the
nine months ended September 30, 2010:
Income available to common stockholders	$	224,595		11,196,760	$	0.02
Effect of dilutive stock options		—		20,073		—
Diluted net income per common share for the
nine months ended September 30, 2010:	$	224,595		11,216,833	$	0.02