NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

12 Months Ended

Dec. 31, 2012

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

11. NET INCOME PER COMMON AND COMMON EQUIVALENT SHARE

        Basic and diluted net income per common and potential common share has been calculated based on the weighted average number of shares outstanding. Options that are potentially dilutive are deemed not to be dilutive for 2012, 2011 and 2010 due to the exercise price of all options being greater than the average market price of the Company's stock during those years. The following schedule reconciles the numerators and denominator of the basic and diluted net income per common and potential common share for the years ended December 31, 2012, 2011, 2010.

	Net Income (Numerator)		Shares (Denominator)		Per Share Amount
Year ended December 31, 2012
Basic earnings per share available to common stockholders	$	532,003		2,157,732	$	0.25
Nonvested resticted stock grant		—		7,664		—
Effect of dilutive securities: options to purchase common shares		—		—		—
Diluted earnings per share	$	532,003		2,165,396	$	0.25
Year ended December 31, 2011
Basic earnings per share available to common stockholders	$	31,806		2,120,366	$	0.02
Nonvested resticted stock grant		—		13,822		—
Effect of dilutive securities: options to purchase common shares		—		—		—
Diluted earnings per share	$	31,806		2,134,188	$	0.02
Year ended December 31, 2010
Basic earnings per share available to common stockholders	$	315,572		2,107,619	$	0.15
Nonvested resticted stock grant		—		18,878		—
Effect of dilutive securities: options to purchase common shares		—		—		—
Diluted earnings per share	$	315,572		2,126,497	$	0.15