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Earnings Per Share
3 Months Ended
Mar. 31, 2013
Earnings Per Share [Abstract]  
Earnings Per Share

8.          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 months ended March 31, 2013 and 2012 were as follows:

 

 

 

 

 

 

For the three months

ended March 31

   

2013

 

2012

Weighted average common shares, basic

24,128,114 

 

23,877,362 

Dilutive effect of stock options

25,869 

 

133,431 

Weighted average common shares, diluted

24,153,983 

 

24,010,793 

 

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

 

 

 

 

 

 

 

For the three months

ended March 31

   

2013

 

2012

Stock options

37,500 

 

886,710