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Income Per Share of Common Stock (Tables)
 6 Months Ended
Jun. 30, 2015
Income Per Share of Common Stock  
Schedule of computation of basic and diluted income per common share

 

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

 

 

 

Three Months Ended
June 30,

 

Six Months Ended
June 30,

 

 

 

2015

 

2014

 

2015

 

2014

 

Net income for basic and diluted income per common share

 

$
2,559 

 
5,718 

 

$
4,924 

 
10,210 

 

Weighted-average shares for basic income per share

 
5,599 

 
5,578 

 
5,598 

 
5,577 

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

Employee and director stock options (1)

 
6 

 
11 

 
7 

 
11 

 

 

 

 

 

 

 

 

 

 

 

Adjusted weighted-average shares and assumed exercises for diluted income per share

 
5,605 

 
5,589 

 
5,605 

 
5,588 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per common share

 

$
0.46 

 
1.03 

 

$
0.88 

 
1.83 

 

Diluted net income per common share

 

$
0.46 

 
1.02 

 

$
0.88 

 
1.83 

 

 

 

(1)

Excludes 15.8 and 15.0 stock options for the 2015 and 2014 periods, respectively, as anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.