Net Income Per Common Share

9 Months Ended

Sep. 30, 2013

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 (unaudited), is determined on the basis of the weighted average number of common shares outstanding during the period as follows:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2013	2012	2013	2012
Weighted average common shares outstanding
Basic	33,670,639	33,746,824	33,574,801	33,592,984
Dilutive effect of stock options and restricted stock	538,170	664,830	416,220	663,469
Weighted average common shares outstanding diluted	34,208,809	34,411,654	33,991,021	34,256,453

Options to purchase 123,900 shares of common stock that were outstanding for the nine month period ended September 30, 2013 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 on diluted earnings per share would be anti-dilutive. Options to purchase 212,000 shares of common stock that were outstanding for both the three month period and nine month period ended September 30, 2012 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 on diluted earnings per share would be anti-dilutive.