| Computation of basic and diluted earnings per common share |
The computation of basic and diluted earnings per common share for the nine month periods ended September 30, 2012 and 2011 are as follows: | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | 2012 | | 2011 | | 2012 | | 2011 | Numerator: | |
| | |
| | | | | Net income | $ | 3,816,936 |
| | $ | 3,379,501 |
| | $ | 10,531,560 |
| | $ | 8,516,214 |
| Denominator: | |
| | |
| | | | | Denominator for basic earnings per share-weighted-average shares | 22,383,168 |
| | 22,153,007 |
| | 22,272,952 |
| | 22,124,803 |
| Effect of dilutive securities: | |
| | |
| | | | | Employee stock options/Unvested Restricted Stock | 512,106 |
| | 417,548 |
| | 548,994 |
| | 440,721 |
| Denominator for dilutive earnings per share | 22,895,274 |
| | 22,570,555 |
| | 22,821,946 |
| | 22,565,524 |
| Basic net income per common share | $ | 0.17 |
| | $ | 0.15 |
| | $ | 0.47 |
| | $ | 0.38 |
| Diluted net income per common share | $ | 0.17 |
| | $ | 0.15 |
| | $ | 0.46 |
| | $ | 0.38 |
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