Earnings per Share

6 Months Ended

Jun. 30, 2015

Note 3 – Earnings per Share

Basic earnings per share are computed by dividing net income by the weighted average number of shares of stock outstanding during the period. The Company’s diluted earnings per share give effect to all potential Common Stock 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 issued from the exercise of Common Stock equivalents.

The following summarizes the Common Stock included in the basic and diluted shares, as disclosed on the face of the consolidated condensed statements of income:

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Weighted average number of shares for calculation of basic EPS		35,970,992		35,360,957		35,870,649		35,213,135
Stock options under the 2006, 2011 and 2013 equity plans		613,858		732,643		557,858		628,093
Weighted average number of shares for calculation of diluted EPS		36,584,850		36,093,600		36,428,507		35,841,228

All stock options outstanding at both the three and six month periods ended June 30, 2015 and 2014 are included in the calculation of diluted shares.