EARNINGS PER SHARE (Tables)

3 Months Ended

Jun. 30, 2013

Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our unaudited condensed consolidated statements of operations for the three months ended June 30, 2013 and June 30, 2012 (in thousands, except per share data).

	Three months ended June 30,
	2013		2012
Basic and diluted shares outstanding
Weighted average shares outstanding — basic		7,914		7,721
Effect of dilutive shares		71		70
Weighted average shares outstanding — diluted		7,985		7,791

Calculation of earnings per share - basic
Net earnings	$	7,850	$	8,062
Net earnings attributable to participating securities		123		255
Net earnings attributable to common shareholders	$	7,727	$	7,807

Earnings per share - basic	$	0.98	$	1.01

Calculation of earnings per share - diluted
Net earnings attributable to common shareholders— basic	$	7,727	$	7,807
Add: undistributed earnings attributable to participating securities		-		2
Net earnings attributable to common shareholders— diluted	$	7,727	$	7,809

Earnings per share - diluted	$	0.97	$	1.00