XML 46 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Earnings Per Share
9 Months Ended
Sep. 30, 2012
Earnings Per Share [Abstract]  
Earnings Per Share

7.            EARNINGS PER SHARE

 

The calculation of basic earnings per share considers only weighted average outstanding common shares in the computation. The calculation of diluted earnings per share gives effect to all potentially dilutive securities. The calculation of diluted earnings per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method. Weighted average shares outstanding for the three and nine months ended September 30, 2012 and 2011 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months

For the nine months

 

ended September 30,

ended September 30,

   

2012

2011

2012

2011

Weighted average common shares, basic

24,117,362 
23,877,362 
24,117,362 
23,715,224 

Dilutive effect of stock options

22,241 
313,890 
200,186 
299,915 

Weighted average common shares, diluted

24,139,603 
24,191,252 
24,317,548 
24,015,139 

 

 

The following shares of stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation:

 

 

 

 

 

 

 

 

 

 

 

For the three months

For the nine months

 

ended September 30,

ended September 30,

   

2012

2011

2012

2011

Stock options

886,710 
886,710 
886,710 
886,710