Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2013

Dilutive Shares of Consolidated Condensed Statements of Income

The Company’s diluted earnings per share give effect to all potential common shares outstanding during a period that do not have an anti-dilutive impact to the calculation. In computing the diluted earnings per share, the treasury stock method is used in determining the number of shares assumed to be purchased from the conversion of Common Stock equivalents. The following summarizes the shares included in the dilutive shares as disclosed in the statements of income:

	Year ended December 31,
	2013		2012		2011
Weighted average number of shares for calculation of basic EPS – Common Stock		33,652,646		28,352,864		22,605,518
Stock options under Plans		470,995		509,599		849,104
Weighted average number of shares for calculation of diluted EPS – Common Stock		34,123,641		28,862,463		23,454,622

Common Stock Issuable upon Exercise of Certain Stock Options

The accompanying table represents Common Stock issuable upon the exercise of certain stock options and Series C Convertible Preferred Stock that have been excluded from the diluted earnings calculation because the effect of their inclusion would be anti-dilutive.

	Year ended December 31,
	2013		2012		2011
Stock options outstanding for the 1993, 1997, 2006 and 2011 Stock Options Plans		550,000		149,000		84,000
Series C Convertible Preferred Stock		—		1,531,891		3,714,518
		550,000		1,680,891		3,798,518