Net Income Per Common Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Net Income Per Common Share

Net Income Per Common Share

Net income per common share, as shown on the Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited), is determined on the basis of the weighted average number of common shares outstanding during the period as follows:

	Three Months Ended June 30,		Six Months Ended June 30,
	2012	2011	2012	2011
Weighted average common shares outstanding
Basic	33,595,637	35,249,616	33,525,444	35,279,504
Dilutive effect of stock options and restricted stock	677,056	—	596,042	156,608
Weighted average common shares outstanding diluted	34,272,693	35,249,616	34,121,486	35,436,112

Options to purchase 212,000 and 227,000 shares of common stock that were outstanding for the three months and six months ended June 30, 2012, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and their effect would be anti-dilutive. Options to purchase 1,172,729 and 1,757,404 shares of common stock that were outstanding for the three and six months ended June 30, 2011, respectively, were not included in the computation of diluted earnings per share as the exercise prices of these options were greater than the average market price of common shares, and their effect would be anti-dilutive.