Numerator for net income per share – basic:

Net income

$

6,175

$

7,273

$

12,534

$

14,236

Allocation of distributed and undistributed income to unvested restricted stock shareholders

(1

)

(4

)

(2

)

(7

)

Net income attributable to common shareholders

6,174

7,269

12,532

14,229

Denominator for net income per share – basic:

Weighted average common shares outstanding – basic

23,871

24,578

23,870

24,582

Net income per share – basic

$

0.26

$

0.30

$

0.53

$

0.58

Numerator for net income per share – diluted:

Net income attributable to common shareholders for basic computation

6,174

7,269

12,532

14,229

Denominator for net income per share – diluted:

Weighted average common shares outstanding – basic

23,871

24,578

23,870

24,582

Weighted average effect of dilutive securities – stock options

44

138

64

145

Denominator for diluted earnings per share – adjusted weighted average shares

23,915

24,716

23,934

24,727

Net income per share – diluted

$

0.26

$

0.29

$

0.52

$

0.58