Income Per Share of Common Stock

3 Months Ended

Mar. 31, 2012

Income Per Share of Common Stock

Income Per Share of Common Stock

5.Income Per Share of Common Stock

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Quarter Ended March 31,
	2012		2011
Numerator:
Income for basic and diluted income per common share	$	4,624	$	4,813
Denominator:
Weighted-average shares for basic income per common share	6,172		6,414
Effect of dilutive securities:
Employee and director stock options (1)	16		17
Adjusted weighted-average shares and assumed exercises for diluted income per common share	6,188		6,431
Income per common share:
Basic	$	0.75	$	0.75
Diluted	$	0.75	$	0.75

(1)  Options to acquire 9.5 shares of common stock were excluded from the calculation of dilutive securities for the quarter ended March 31, 2011 as they were anti-dilutive because the exercise price exceeded the average per share market price for the period.