Income for basic and diluted income per common share
$
3,947
7,062
$
12,631
17,671
Denominator:
Weighted-average shares for basic income per share
5,550
6,322
5,757
6,384
Effect of dilutive securities:
Employee and director stock options (1)
8
16
11
17
Adjusted weighted-average shares and assumed exercises for diluted income per share
5,558
6,338
5,768
6,401
Income per share of common stock:
Basic
$
0.71
1.12
$
2.19
2.77
Diluted
$
0.71
1.11
$
2.19
2.76
(1) Options to acquire 9.9 and 9.5 shares of common stock were excluded from the calculation of dilutive securities for the 2012 and 2011 periods, respectively, as they were anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.