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Net Income Per Share
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6 Months Ended |
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Jun. 30, 2013
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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 3,596 and 6,132 shares for the three and six-month periods ended June 30, 2013, respectively. The dilutive effect of stock options for the three and six-month periods ended June 30, 2012 was 39,841 shares and 28,008 shares, respectively. The Company calculates the dilutive effect of outstanding options using the treasury stock method. Options totaling 106,746 were excluded from the calculation of diluted earnings per share for the six-months ended June 30, 2013 because the exercise price was greater than the average market price of common stock during the period and deferred stock awards totaling 273,571 shares were not included for the six-months ended June 30, 2013 because of unmet performance conditions. All options were included for the six-month period ended June 30, 2012 because the exercise price was greater than the average market price of common stock during the period and deferred stock awards totaling 148,748 shares were not included for the six-month period ended June 30, 2012 because of unmet performance conditions.
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