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Earnings per Share
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
Earnings Per Share
6.
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,
 
 
 
2014
 
2013
 
2014
 
2013
 
Numerator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income
 
$
5,720,000
 
$
7,073,000
 
$
11,687,000
 
$
13,006,000
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Denominator:
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average shares of common stock outstanding
 
 
13,050,346
 
 
13,863,043
 
 
13,111,348
 
 
13,836,087
 
Effect of dilutive common stock equivalents
 
 
99,068
 
 
100,014
 
 
88,859
 
 
159,084
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average diluted common shares outstanding
 
 
13,149,414
 
 
13,963,057
 
 
13,200,207
 
 
13,995,171
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
EPS:
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
 
$
0.44
 
$
0.51
 
$
0.89
 
$
0.94
 
Diluted
 
$
0.44
 
$
0.51
 
$
0.89
 
$
0.93
 
 
The company had  70,542 anti-dilutive options for the three and six months ended June 30, 2014.