Numerator for net income per share – basic:

Net income

$

3,222

$

5,787

Allocation of distributed and undistributed income to unvested restricted stock shareholders

(133

)

-

Net income attributable to common shareholders

3,089

5,787

Denominator for net income per share – basic:

Weighted average shares of common stock outstanding – basic

21,799

22,972

Net income per share – basic

$

0.14

$

0.25

Numerator for net income per share – diluted:

Net income attributable to common shareholders for basic computation

3,089

5,787

Denominator for net income per share – diluted:

Weighted average shares of common stock outstanding – basic

21,799

22,972

Weighted average effect of dilutive securities – stock options

56

2

Weighted average effect of dilutive securities – restricted stock units

56

0

Denominator for diluted earnings per share – adjusted weighted average shares

21,911

22,974

Net income per share – diluted

$

0.14

$

0.25