Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v3.6.0.2
Income Per Share
9 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Income Per Share

NOTE 7 – INCOME PER SHARE:

Basic income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period.  Diluted income per share is calculated by dividing net income by the weighted average number of common shares outstanding and, when applicable, potential common shares outstanding during the period.  A reconciliation of the numerators and denominators of basic and diluted income per share is presented below:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

December 31,

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Basic income per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

1,840

 

 

$

1,274

 

 

$

3,222

 

 

$

5,611

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,727

 

 

 

9,922

 

 

 

9,709

 

 

 

10,051

 

Basic income per share

 

$

.19

 

 

$

.13

 

 

$

.33

 

 

$

.56

 

Diluted income per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

1,840

 

 

$

1,274

 

 

$

3,222

 

 

$

5,611

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,727

 

 

 

9,922

 

 

 

9,709

 

 

 

10,051

 

Stock options outstanding

 

 

6

 

 

 

5

 

 

 

5

 

 

 

8

 

Weighted average common and potential common

   shares outstanding

 

 

9,733

 

 

 

9,927

 

 

 

9,714

 

 

 

10,059

 

Diluted income per share

 

$

.19

 

 

$

.13

 

 

$

.33

 

 

$

.56

 

 

 

Options to purchase a total of 16 and 54 shares of common stock were outstanding at December 31, 2016 and 2015, respectively, but were not included in the above computation of diluted income per share given their exercise prices as they would not be dilutive upon issuance.