EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2013

EARNINGS PER SHARE [Abstract]

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 and nine months ended December 31, 2013 and December 31, 2012 (in thousands, except per share data).

	Three Months Ended				Nine Months Ended
	December 31,				December 31,
	2013		2012		2013		2012
Basic and diluted shares outstanding
Weighted average shares outstanding — basic		7,950		7,843		7,947		7,778
Effect of dilutive shares		32		-		66		90
Weighted average shares outstanding — diluted		7,982		7,843		8,013		7,868
Calculation of earnings per share - basic
Net earnings	$	10,610	$	9,033	$	27,051	$	27,128
Net earnings attributable to participating securities		60		342		261		507
Net earnings attributable to common shareholders	$	10,550	$	8,691	$	26,790	$	26,621
Earnings per share - basic	$	1.33	$	1.11	$	3.37	$	3.42
Calculation of earnings per share - diluted
Net earnings attributable to common shareholders— basic	$	10,550	$	8,691	$	26,790	$	26,621
Add: undistributed earnings attributable to participating securities		-		-		2		1
Net earnings attributable to common shareholders— diluted	$	10,550	$	8,691	$	26,792	$	26,622
Earnings per share - diluted	$	1.32	$	1.11	$	3.34	$	3.38