Earnings Per Share

9 Months Ended

Sep. 30, 2014

Earnings Per Share

Earnings Per Share

10.Earnings Per Share

Basic income per share is calculated by dividing the net income attributable to common shares by the weighted average number of common shares outstanding during the period. Diluted income per share adjusts basic income per share for the effects of potentially dilutive common shares, if the effect is not antidilutive. Potentially dilutive common shares consist of shares issuable under the 2010 plan. The following is a summary of basic and diluted income per share (in thousands, except share and per share amounts):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Net income attributable to common shares	$	3,147	$	2,901	$	9,763	$	7,368
Weighted average common shares outstanding - basic	21,214,825		20,871,504		21,113,700		20,793,596
Effect of potentially dilutive common shares:
Stock options	338,674		391,398		360,707		388,889
Unvested awards	155,260		217,069		205,524		283,225
Weighted average common shares outstanding - diluted	21,708,759		21,479,971		21,679,931		21,465,710
Net income per share attributable to common shares
Basic	$	0.15	$	0.14	$	0.46	$	0.35
Diluted	$	0.14	$	0.14	$	0.45	$	0.34

In the calculations above, we have excluded weighted-average potentially dilutive securities of 146,216 and 211,721 for the three months ended September 30, 2014, and 2013, respectively, and 187,404 and 166,732 for the nine months ended September 30, 2014, and 2013, respectively, as their effect would have been antidilutive.