Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v2.4.0.6
Income Per Share
 6 Months Ended
Sep. 30, 2012
Income 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. Common shares outstanding include share equivalent units, which are contingently issuable shares. 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
September 30, 		    Six Months Ended
September 30, 		 
    2012     2011     2012     2011  

Basic income per share

                                
         

Numerator:

                                

Net income

   $ 2,615     $ 5,468     $ 4,005     $ 8,484  
   

 

 

    

 

 

    

 

 

    

 

 

  
         

Denominator:

                                

Weighted common shares outstanding

     9,988       9,913       9,975       9,896  

Share equivalent units (“SEUs”)

     43       55       42       58  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average common shares and SEUs

     10,031       9,968       10,017       9,954  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic income per share

   $ .26     $ .55     $ .40     $ .85  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted income per share

                                
         

Numerator:

                                

Net income

   $ 2,615     $ 5,468     $ 4,005     $ 8,484  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Weighted average shares and SEUs outstanding

     10,031       9,968       10,017       9,954  

Stock options outstanding

     23       31       24       36  

Contingently issuable SEUs

     —         1       —         1  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average common and potential common shares outstanding

     10,054       10,000       10,041       9,991  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted income per share

   $ .26     $ .55     $ .40     $ .85  
   

 

 

    

 

 

    

 

 

    

 

 

  

Options to purchase a total of 71 and 24 shares of common stock were outstanding at September 2012 and 2011, respectively, but were not included in the above computation of diluted income per share given their exercise prices as they would be anti-dilutive upon issuance.