INCOME PER COMMON AND COMMON EQUIVALENT SHARE

3 Months Ended

Jun. 30, 2011

INCOME PER COMMON AND COMMON EQUIVALENT SHARE

INCOME PER COMMON AND COMMON EQUIVALENT SHARE

4.   INCOME PER COMMON AND COMMON EQUIVALENT SHARE

Basic earnings per common share is computed by dividing net income available to common stockholders by the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per share include the dilutive impact of options and restricted stock units using the average share price of the Company’s common stock for the period. For the three months ended June 30, 2011 and June 30, 2010, common stock equivalents of 2,000 and 25,000, respectively, are excluded from diluted earnings per share, as their effect is anti-dilutive.

	Three Months Ended
(In thousands except per share amounts)	June 30, 2011		June 30, 2010
Earnings Per Share - Basic:
Net income	$	5,693	$	6,801
Weighted average number of common shares outstanding — basic	9,193		9,021
Net income per share — basic	$	0.62	$	0.75
Earnings Per Share - Diluted:
Net income	$	5,693	$	6,801
Weighted average number of common shares outstanding	9,193		9,021
Assumed exercise of stock options and restricted stock units, using the treasury stock method	144		198
Weighted average number of common and potential common shares outstanding — diluted	9,337		9,219
Net income per share — diluted	$	0.61	$	0.74