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Net Income Per Share
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6 Months Ended |
|---|---|
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Jun. 30, 2011
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|
| Net Income Per Share | |
| Net Income Per Share |
NOTE 10 – NET INCOME PER SHARE
Basic net income per common share is based on the weighted average number of common shares outstanding during each year. Diluted net income per common share takes into effect the dilutive effect of potential common shares outstanding. The Company's only potential common shares outstanding are stock options and shares associated with the long-term incentive compensation plans, which resulted in a dilutive effect of 77,263 shares and 55,741 shares for the respective three and six month periods ended June 30, 2011. The dilutive effect of stock options for the three and six month periods ended June 30, 2010 was 25,921 shares and 29,122 shares, respectively. The Company calculates the dilutive effect of outstanding options using the treasury stock method. All options were included because the exercise price was greater than the average market price of common stock during the period and deferred stock awards totaling 83,743 shares were not included because of unmet performance conditions. |