Income per share

6 Months Ended

Jun. 30, 2012

Income per share

(3)           Income per share

The following is the computation for basic and diluted income per share:

	Three Months Ended June, 30				Six Months Ended  June 30,
	2012		2011		2012		2011
	(in thousands, except per share amounts)
Net income	$	6,099	$	7,019	$	11,476	$	13,877
Weighted average basic shares outstanding		2,016		2,019		2,015		2,018
Add:  Effect of dilutive securities		3		11		8		12
Weighted average diluted shares outstanding		2,019		2,030		2,023		2,030

Earnings per share:
Basic	$	3.03	$	3.48	$	5.70	$	6.88
Diluted	$	3.02	$	3.46	$	5.67	$	6.84

Incremental shares from stock options, unvested restricted stock and stock units were included in the calculation of weighted average diluted shares outstanding using the treasury stock method. Dilutive securities representing 6,322 and 6,711 shares of common stock for the quarters ended June 30, 2011 and 2012, respectively, were excluded from the computation of weighted average diluted shares outstanding because their effect would have been anti-dilutive.