Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

 v2.3.0.11
Income Per Share
 3 Months Ended
Jun. 30, 2011
Earnings 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  
    June 30,  
    2011     2010  
Basic income per share
               
Numerator:
               
Net income
  $ 3,016     $ 878  
 
           
 
               
Denominator:
               
Weighted common shares outstanding
    9,879       9,864  
Share equivalent units (“SEUs”)
    60       58  
 
           
Weighted average common shares and SEUs
    9,939       9,922  
 
           
 
               
Basic income per share
  $ .30     $ .09  
 
           
Diluted income per share
               
 
               
Numerator:
               
Net income
  $ 3,016     $ 878  
 
           
 
               
Denominator:
               
Weighted average shares and SEUs outstanding
    9,939       9,922  
Stock options outstanding
    42       40  
 
           
Weighted average common and potential common shares outstanding
    9,981       9,962  
 
           
Diluted income per share
  $ .30     $ .09  
 
           
     Options to purchase a total of 17 shares of common stock were outstanding at June 30, 2011 and 2010, 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.