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Net Income Per Share
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9 Months Ended |
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Sep. 30, 2012
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| Net Income Per Share [Abstract] | |
| Net Income Per Share |
NOTE 11 – 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 12,065 and 22,952 shares for the three and nine month periods ended September 30, 2012. The dilutive effect of stock options for the three and nine month periods ended September 30, 2011 was 69,562 shares and 57,210 shares, respectively. The Company calculates the dilutive effect of outstanding options using the treasury stock method. Options totaling 80,290 were excluded from the calculation of diluted earnings per share for the three and nine-months ended September 30, 2012 because the exercise price was greater than the average market price of common stock during the period and deferred stock awards totaling 150,748 shares were not included for the three and nine-months ended September 30, 2012 because of unmet performance conditions. All options were included for the three and nine-month periods ended September 30, 2011 because the exercise price was greater than the average market price of common stock during the period and deferred stock awards totaling 78,943 shares were not included for the three and nine-month periods ended September 30, 2011 because of unmet performance conditions. |