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Earnings per share
 3 Months Ended
Jun. 30, 2011
Earnings per share

(6) Earnings per share. The following details the computations of the basic and diluted earnings per common share (dollars in thousands, except per share amounts):

  THREE MONTHS NINE MONTHS
  ENDED JUNE 30, ENDED JUNE 30,
  2011 2010 2011 2010
Weighted average common shares        
outstanding during the period        
  - shares used for basic        
earnings per common share 9,291 9,184 9,279 9,171
         
Common shares issuable under        
share based payment plans        
which are potentially dilutive 152 242 174 250
         
Common shares used for diluted        
earnings per common share 9,443 9,426 9,453 9,421
         
Net income $2,379 2,599 10,457 5,377
         
Earnings per common share        
Basic $0.26 0.28 1.13 0.59
Diluted $0.25 0.28 1.11 0.57

 

For the three and nine months ended June 30, 2011, 140,370 and 132,870 shares attributable to outstanding stock options were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive. For the three and nine months ended June 30 2010, 34,570 and 37,070 shares attributable to outstanding stock options were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.