Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v2.4.1.9
Income Per Share
 9 Months Ended
Dec. 31, 2014
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. 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,		  
     2014      2013      2014      2013  

Basic income per share

            

Numerator:

            

Net income

    $ 3,992       $ 1,431       $ 10,570       $ 7,828   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

Weighted common shares outstanding

   10,127      10,070      10,119      10,045   

Share equivalent units (“SEUs”) outstanding

   —        —        —        18   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares and SEUs outstanding

   10,127      10,070      10,119    $ 10,063   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic income per share

 $ .39    $ .14    $ 1.04    $ .78   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted income per share

Numerator:

Net income

 $ 3,992    $ 1,431    $ 10,570    $ 7,828   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

Weighted average shares and SEUs outstanding

   10,127      10,070      10,119      10,063   

Stock options outstanding

   22      37      23      36   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common and potential common shares outstanding

   10,149      10,107      10,142      10,099   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted income per share

 $ .39    $ .14    $ 1.04    $ .78   
  

 

 

     

 

 

     

 

 

     

 

 

  

Options to purchase a total of 12 and 2 shares of common stock were outstanding at December 31, 2014 and 2013, 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.