Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v3.10.0.1
Income Per Share
 3 Months Ended
Jun. 30, 2018
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,

 

 

 

2018

 

 

2017

 

Basic income per share

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

2,323

 

 

$

935

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,790

 

 

 

9,748

 

Basic income per share

 

$

.24

 

 

$

.10

 

Diluted income per share

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

Net income

 

$

2,323

 

 

$

935

 

Denominator:

 

 

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

9,790

 

 

 

9,748

 

Stock options outstanding

 

 

14

 

 

 

10

 

Weighted average common and potential common

   shares outstanding

 

 

9,804

 

 

 

9,758

 

Diluted income per share

 

$

.24

 

 

$

.10

 

 

Options to purchase a total of 2 and 11 shares of common stock were outstanding at June 30, 2018 and 2017, 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.