Numerator for net income per share – basic:

Net income

$

4,122

$

5,688

$

9,802

$

18,223

Allocation of distributed and undistributed income to unvested restricted stock shareholders

(128

)

-

(192

)

(2

)

Net income attributable to common shareholders

3,994

5,688

9,610

18,221

Denominator for net income per share – basic:

Weighted average common shares outstanding – basic

22,130

23,721

22,584

23,820

Net income per share – basic

$

0.18

$

0.24

$

0.43

$

0.76

Numerator for net income per share – diluted:

Net income attributable to common shareholders for basic computation

3,994

5,688

9,632

18,221

Denominator for net income per share – diluted:

Weighted average common shares outstanding – basic

22,130

23,721

22,584

23,820

Weighted average effect of dilutive securities – stock options

-

24

6

48

Denominator for diluted earnings per share – adjusted weighted average shares

22,130

23,745

22,590

23,868

Net income per share – diluted

$

0.18

$

0.24

$

0.43

$

0.76