Quarterly report pursuant to Section 13 or 15(d)

Income Per Share

v2.4.0.8
Income Per Share
 6 Months Ended
Sep. 30, 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
September 30,		      Six Months Ended
September 30,		  
    

2014

     

2013

     

2014

     

2013

  

Basic income per share

            

Numerator:

            

Net income

    $ 4,186       $ 2,589       $ 6,578       $ 6,397   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted common shares outstanding

      10,126         10,051         10,116         10,033   

Share equivalent units (“SEUs”) outstanding

      -         11         -         27   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common shares and SEUs outstanding

      10,126         10,062         10,116       $ 10,060   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic income per share

    $ .41       $ .26       $ .65       $ .64   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted income per share

            

Numerator:

            

Net income

    $ 4,186       $ 2,589       $ 6,578       $ 6,397   
  

 

 

     

 

 

     

 

 

     

 

 

  

Denominator:

            

Weighted average shares and SEUs outstanding

      10,126         10,062         10,116         10,060   

Stock options outstanding

      22         42         22         35   
  

 

 

     

 

 

     

 

 

     

 

 

  

Weighted average common and potential common shares outstanding

      10,148         10,104         10,138         10,095   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted income per share

    $ .41       $ .26       $ .65       $ .63   
  

 

 

     

 

 

     

 

 

     

 

 

  

Options to purchase a total of 2 shares of common stock were outstanding at each of September 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.