Earnings Per Share

6 Months Ended

Jun. 30, 2012

Earnings Per Share [Abstract]

Earnings Per Share

7.EARNINGS PER SHARE

The calculation of basic earnings per share considers only weighted average outstanding common shares in the computation. The calculation of diluted earnings per share gives effect to all potentially dilutive securities. The calculation of diluted earnings per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method and the assumed conversion of other convertible securities (using the “if converted” method) at the beginning of the year, or for the period outstanding during the year for current year issuances. Weighted average shares outstanding for the three and six months ended June 30, 2012 and 2011 were as follows:

	For the three months		For the six months
	ended June 30,		ended June 30,
	2012	2011	2012	2011
Weighted average common shares, basic	23,890,405	23,717,165	23,883,919	23,714,215
Dilutive effect of stock options	169,917	308,930	170,985	301,732
Weighted average common shares, diluted	24,060,322	24,026,095	24,054,904	24,015,947

The following shares of restricted stock and stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation:

	For the three months		For the six months
	ended June 30,		ended June 30,
	2012	2011	2012	2011
Unvested restricted stock	-	160,000	-	160,000
Stock options	886,710	886,710	886,710	886,710