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Net Income Per Common Share
3 Months Ended
Sep. 30, 2011
Net Income Per Common Share [Abstract] 
Net Income Per Common Share

Note 4. Net Income per Common Share

Basic net income per common share is computed using the weighted-average number of shares of common stock outstanding. In periods where net income is reported, the weighted–average number of shares outstanding is increased by warrants and options in the money to calculate diluted net income per common share.

The following table represents the calculation of basic and diluted net income per common share (unaudited, in thousands, except per share data):

 

     Three Months Ended
September 30,		  
     2011      2010  

Net income applicable to common stockholders

    $ 574       $ 4,846   
  

 

 

     

 

 

  

Basic net income per common share

    $ 0.02       $ 0.22   
  

 

 

     

 

 

  

Weighted-average common shares used in computing basic net income per common share

      24,141         22,124   

Effect of dilutive options and warrants

      1,836         268   
  

 

 

     

 

 

  

Weighted-average common shares used in computing diluted net income per common share

      25,977         22,392   
  

 

 

     

 

 

  

Diluted net income per common share

    $ 0.02       $ 0.22   
  

 

 

     

 

 

  

Weighted average shares of stock options and warrants to purchase 265,698 and 3,513,258 shares of common stock for the three months ended September 30, 2011 and 2010, respectively, were not included in the computation of diluted net income per common share due to their effect being anti-dilutive.