Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v3.7.0.1
Income Per Share
 3 Months Ended
Jun. 30, 2017
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

 

 

 

June 30,

 

 

 

2017

 

 

2016

 

Basic income per share

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

935

 

 

$

85

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,748

 

 

 

9,675

 

Basic income per share

 

$

.10

 

 

$

.01

 

Diluted income per share

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

935

 

 

$

85

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,748

 

 

 

9,675

 

Stock options outstanding

 

 

10

 

 

 

5

 

Weighted average common and potential common

   shares outstanding

 

 

9,758

 

 

 

9,680

 

Diluted income per share

 

$

.10

 

 

$

.01

 

 

 

Options to purchase a total of 11 and 54 shares of common stock were outstanding at June 30, 2017 and 2016, 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.