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Income Per Share
 6 Months Ended
Jun. 30, 2011
Income Per Share  
Income Per Share

(9)                    Income Per Share

 

Basic income per share is based on the weighted average number of shares of common stock outstanding.  Diluted income per share is based upon the weighted average of common shares and dilutive common stock equivalent shares outstanding during each period.

 

The weighted average number of shares used to compute basic and diluted net income per share consisted of the following:

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

30-Jun-2011

 

30-Jun-2010

 

30-Jun-2011

 

30-Jun-2010

 

Weighted average common shares outstanding, basic

 

6,465,968

 

6,138,249

 

6,429,945

 

6,067,966

 

Weighted average common equivalent shares due to stock options and RSUs

 

515,870

 

587,149

 

544,161

 

622,928

 

Weighted average common shares outstanding, diluted

 

6,981,838

 

6,725,398

 

6,974,106

 

6,690,894

 

 

The computation of diluted earnings per share excludes the effect of the potential exercise of stock awards, including stock options, when the average market price of the common stock is lower than the exercise price of the related options during the period. These outstanding stock awards are not included in the computation of diluted income per share because the effect would have been antidilutive.  For the three- and six-month periods ended June 30, 2011, the number of stock awards excluded from the computation was 3,338 and 1,678, respectively.  For the three- and six-month periods ended June 30, 2010, the number of stock awards excluded from the computation was 107,118 for both periods.