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Earnings Per Share
 6 Months Ended
Jun. 30, 2011
Notes to Financial Statements  
Earnings Per Share

4. Earnings Per Share

 

Basic earnings per share excludes dilution and is computed by dividing income available to common shareholders by the weighted-average number of shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, except for periods when the Company reports a net loss because the inclusion of such items would be antidilutive.

 

The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per common share.

    Net Income  Shares  Per Share Amount
Basic net income per common share for the three months ended June 30, 2011:               
Income available to common stockholders  $47,282    11,196,760   $0.00 
Effect of dilutive stock options   —      16,706    —   
Diluted net income per common share for the three months ended June 30, 2011:  $47,282    11,213,466   $0.00 
                

 

    Net Income  Shares  Per Share Amount
Basic net income per common share for the three months ended June 30, 2011:               
Income available to common stockholders  $78,445    11,196,760   $0.01 
Effect of dilutive stock options   —      26,103    —   
Diluted net income per common share for the three months ended June 30, 2011:  $78,445    11,222,863   $0.01 
                

 

 

    Net Income  Shares  Per Share Amount
Basic net income per common share for the three months ended June 30, 2011:               
Income available to common stockholders  $38,187    11,196,760   $0.01 
Effect of dilutive stock options   —      12,469    —   
Diluted net income per common share for the three months ended June 30, 2011:  $38,817    11,209,229   $0.01 
                

 

 

    Net Income  Shares  Per Share Amount
Basic net income per common share for the three months ended June 30, 2011:               
Income available to common stockholders  $182,212    11,196,760   $0.02 
Effect of dilutive stock options   —      18,427    —   
Diluted net income per common share for the three months ended June 30, 2011:  $182,212    11,215,187   $0.02