Income Per Share of Common Stock

9 Months Ended

Sep. 30, 2011

Income Per Share of Common Stock

Income Per Share of Common Stock

5. Income Per Share of Common Stock

The following table sets forth the computation of basic and diluted income per common share (in thousands, except per share amounts):

	Three Months Ended September 30,			Nine Months Ended September 30,
	2011		2010	2011		2010
Numerator:
Income for basic and diluted income per common share	$	7,062	4,546	$	17,671	14,871
Denominator:
Weighted-average shares for basic income Per share	6,322		6,402	6,384		6,400
Effect of dilutive securities:
Employee and director stock options (1)	16		16	17		17
Adjusted weighted-average shares and assumed exercises for diluted income per share	6,338		6,418	6,401		6,417
Income per share of common stock:
Basic	$	1.12	0.71	$	2.77	2.32
Diluted	$	1.11	0.71	$	2.76	2.32

(1)  Options to acquire 9.5 and 2.0 shares of common stock were excluded from the calculation of dilutive securities for the 2011 and 2010 periods, respectively, as they were anti-dilutive because the exercise price exceeded the average per share market price for the periods presented.