Earnings Per Share

3 Months Ended

Mar. 31, 2013

The following table reconciles the numerator and denominator used to calculate diluted earnings per share for the three months ended March 31, 2013 and 2012:



	Three months ended March 31,
	2013		2012
Numerator:
Net income attributable to common shareholders	$	854,709	$	423,208
Denominator:
Weighted-average shares outstanding – basic	18,758,383		20,007,998
Dilutive effect of other securities	166,782		226,440
Weighted-average shares outstanding – diluted	18,925,165		20,234,438

As of March 31, 2013 and 2012, restricted stock awards and options to purchase 878,480 and 666,733 shares of common stock, respectively, were outstanding but were not included in the computation of diluted EPS because the effect would be antidilutive.

- Definition

The entire disclosure for earnings per share.

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