Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v2.4.0.6
Income Per Share
 9 Months Ended
Dec. 31, 2011
Income Per Share [Abstract]  
INCOME PER SHARE

NOTE 8 – 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
December  31, 		    Nine Months Ended
December 31, 		 
    2011     2010     2011     2010  

Basic income per share

                                

Numerator:

                                

Net income

   $ 1,640     $ 759     $ 10,124     $ 3,194  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Weighted common shares outstanding

     9,913       9,839       9,902       9,860  

Share equivalent units (“SEUs”)

     42       60       52       59  
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average common shares and SEUs

     9,955       9,899       9,954       9,919  
   

 

 

    

 

 

    

 

 

    

 

 

  

Basic income per share

   $ .16     $ .08     $ 1.02     $ .32  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted income per share

                                

Numerator:

                                

Net income

   $ 1,640     $ 759     $ 10,124     $ 3,194  
   

 

 

    

 

 

    

 

 

    

 

 

  

Denominator:

                                

Weighted average shares and SEUs outstanding

     9,955       9,899       9,954       9,919  

Stock options outstanding

     35       31       36       37  

Contingently issuable SEUs

     1       —         1       —    
   

 

 

    

 

 

    

 

 

    

 

 

  

Weighted average common and potential common shares outstanding

     9,991       9,930       9,991       9,956  
   

 

 

    

 

 

    

 

 

    

 

 

  

Diluted income per share

   $ .16     $ .08     $ 1.01     $ .32  
   

 

 

    

 

 

    

 

 

    

 

 

  

Options to purchase a total of 24 and 17 shares of common stock were outstanding at December 31, 2011 and 2010, respectively, but were not included in the above computation of diluted income per share as they would be anti-dilutive upon issuance given their exercise prices.