EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2014

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, 2014 and December 31, 2013 (in thousands, except per share data).

	Three months ended December 31,				Nine months ended December 31,
	2014		2013		2014		2013
Basic and diluted common shares outstanding
Weighted average common shares outstanding — basic		7,230		7,950		7,351		7,947
Effect of dilutive shares		49		32		62		66
Weighted average shares common outstanding — diluted		7,279		7,982		7,413		8,013
Calculation of earnings per common share - basic
Net earnings	$	15,501	$	10,610	$	36,930	$	27,051
Net earnings attributable to participating securities		-		60		63		261
Net earnings attributable to common shareholders	$	15,501	$	10,550	$	36,867	$	26,790
Earnings per common share - basic	$	2.14	$	1.33	$	5.02	$	3.37
Calculation of earnings per common share - diluted
Net earnings attributable to common shareholders— basic	$	15,501	$	10,550	$	36,867	$	26,790
Add: undistributed earnings attributable to participating securities		-		-		1		2
Net earnings attributable to common shareholders— diluted	$	15,501	$	10,550	$	36,868	$	26,792
Earnings per common share - diluted	$	2.13	$	1.32	$	4.97	$	3.34