Earnings per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings per Share

2. Earnings per Share

Basic earnings per share is calculated by dividing the net income by the weighted average number of common shares outstanding. Diluted earnings per share include the dilutive effects of stock options and unvested restricted stock awards and units.

The following reconciles the denominator used in the calculation of diluted earnings per share:

	Three Months Ended
		March 31,
			2014	2013
Denominator:
Weighted average common shares for basic earning per share			17,850,911		17,752,682
Effect of dilutive securities			93,099		92,760
Weighted average common shares for diluted earnings per share			17,944,010		17,845,442

The weighted average common shares for diluted earnings per share exclude stock options to purchase 448,410 and 596,410 shares for the three months ended March 31, 2014 and 2013, respectively. These options have been excluded from the calculation, as including them would have an anti-dilutive effect on earnings per share for the respective periods.