Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v3.20.2
Income Per Share
 6 Months Ended
Sep. 30, 2020
Earnings Per Share [Abstract]  
Income Per Share

NOTE 6 – 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

 

 

Six Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Basic income per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

2,744

 

 

$

1,205

 

 

$

926

 

 

$

1,287

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares

   outstanding

 

 

9,977

 

 

 

9,883

 

 

 

9,936

 

 

 

9,869

 

Basic income per share

 

$

0.27

 

 

$

0.12

 

 

$

0.09

 

 

$

0.13

 

Diluted income per share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

2,744

 

 

$

1,205

 

 

$

926

 

 

$

1,287

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares

   outstanding

 

 

9,977

 

 

 

9,883

 

 

 

9,936

 

 

 

9,869

 

Stock options outstanding

 

 

—

 

 

 

2

 

 

 

—

 

 

 

3

 

Weighted average common and

   potential common shares

   outstanding

 

 

9,977

 

 

 

9,885

 

 

 

9,936

 

 

 

9,872

 

Diluted income per share

 

$

0.27

 

 

$

0.12

 

 

$

0.09

 

 

$

0.13

 

 

Options to purchase a total of 37 and 4 shares of common stock were outstanding at September 30, 2020 and 2019, 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.