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Earnings per Share | 6 Months Ended
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Jun. 30, 2013
Earnings Per Share [Abstract] |
Earnings Per Share |
7. | Earnings per Share
Basic earnings per share (“EPS”) computations are calculated utilizing the weighted average number of common shares outstanding during the periods presented. Diluted EPS is calculated utilizing the weighted average number of common shares outstanding adjusted for the effect of dilutive common stock equivalents. The following table sets forth the computation of basic and diluted EPS for the three and six months ended June 30:
|  | Three Months Ended June 30, |  | Six Months Ended June 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 7,073,000 |  | $ | 2,813,000 |  | $ | 13,006,000 |  | $ | 6,804,000 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of common stock outstanding |  |  | 13,863,043 |  |  | 13,747,000 |  |  | 13,836,087 |  |  | 13,711,961 |
Effect of dilutive common stock equivalents |  |  | 100,014 |  |  | 87,264 |  |  | 159,084 |  |  | 67,634 |
Weighted average diluted common shares outstanding |  |  | 13,963,057 |  |  | 13,834,264 |  |  | 13,995,171 |  |  | 13,779,595 |
EPS: |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.51 |  | $ | 0.20 |  | $ | 0.94 |  | $ | 0.50 |
Diluted |  | $ | 0.51 |  | $ | 0.20 |  | $ | 0.93 |  | $ | 0.49 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1278-109256 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1252-109256 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -URI http://asc.fasb.org/extlink&oid=32703322&loc=d3e4984-109258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.21) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 + Details
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