Income Per Share of Common Stock (Tables)

9 Months Ended

Sep. 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 September 30,			Nine Months Ended September 30,
	2015		2014	2015		2014
Net income for basic and diluted income per common share	$	5,676	5,426	$	10,600	15,636
Weighted-average shares for basic income per share	5,600		5,578	5,599		5,578
Effect of dilutive securities:
Employee and director stock options (1)	4		11	6		10
Adjusted weighted-average shares and assumed exercises for diluted income per share	5,604		5,589	5,605		5,588
Basic net income per common share	$	1.01	0.97	$	1.89	2.80
Diluted net income per common share	$	1.01	0.97	$	1.89	2.80

(1)  Excludes 35.0 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.