Earnings Per Share

12 Months Ended

Dec. 31, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Earning Per Share

Basic earnings per common share is calculated by dividing net income available to common stockholders by the weighted average number of common stock outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted average common stock outstanding plus stock equivalents that would arise from the assumed exercise of stock options and conversion of warrants using the treasury stock method.

The following table reconciles basic weighted average stock outstanding to diluted weighted average stock outstanding (in thousands):

	Year Ended December 31,
	2012	2011	2010
Basic weighted average stock outstanding	31,040	30,432	25,779
Effect of dilutive securities:
Employee stock options	442	396	453
Restricted stock units	17	28	—
Warrants	926	689	545
Dilutive weighted average stock outstanding	32,425	31,545	26,777

The Company had additional stock options and warrants outstanding of 308,698 as of December 31, 2012 and 2011, and 3,122,836 as of December 31, 2010. These shares were not included in the computation of diluted earnings per share because they were not assumed to be exercised under the treasury stock method or were anti-dilutive.