Net Income Per Share

3 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

Net Income Per Share

Note 2:  Net Income Per Share

In accordance with the provisions of ASC Topic 260 (“Earnings Per Share”) basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period.  Diluted net income per common share includes the dilutive effect of potential restricted stock and the effects of the potential conversion of preferred shares, calculated using the treasury stock method.  Unvested restricted stock and convertible preferred shares issued by the Company represent the only dilutive effect reflected in the diluted weighted average shares outstanding.

The following is a reconciliation of the numerators and denominators of the basic and diluted net income per share computations for the periods presented (in thousands, except for per share amounts):

	Three Months Ended June 30,
	2014		2013
Net income (numerator):
Net income	$	4,973	$	4,755
Shares (denominator):
Weighted average number of common shares
outstanding used in basic computation		19,961		19,848
Common shares issuable upon vesting of
restricted stock		121		146
Common shares issuable upon conversion
of preferred shares		10		10
Shares used in diluted computation		20,092		20,004
Net income per common share:
Basic	$	0.25	$	0.24
Diluted	$	0.25	$	0.24

At June 30, 2014 and 2013, all common restricted stock was included in the diluted net income per common share computation.