Earnings Per Share ("EPS")

6 Months Ended

Sep. 30, 2021

Earnings Per Share ("EPS")

Earnings Per Share ("EPS")

14. Earnings Per Share (“EPS”)

Basic EPS represents net income attributable to common shareholders divided by the weighted average number of our common shares outstanding during the measurement period. Our restricted stock shares include rights to receive dividends that are subject to the risk of forfeiture if service requirements are not satisfied, and as a result, these shares are not considered participating securities and are excluded from the basic weighted-average shares outstanding calculation. Diluted EPS represent net income attributable to common shareholders divided by the weighted average number of our

common shares outstanding during the measurement period while also giving effect to all potentially dilutive common shares that were outstanding during the period.

The calculations of basic and diluted EPS for the periods presented are as follows:

	Three months ended				Six months ended
(In U.S. dollars except share data)	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Numerator:
Net income	$	14,101,803	$	537,950	$	19,970,903	$	12,705,955
Denominator:
Basic weighted average number of common shares outstanding		40,011,505		50,711,714		40,475,625		50,632,392
Effect of dilutive restricted stock and restricted stock units		103,437		42,793		163,448		83,785
Diluted weighted average number of common shares outstanding		40,114,942		50,754,507		40,639,073		50,716,177
EPS:
Basic	$	0.35	$	0.01	$	0.49	$	0.25
Diluted	$	0.35	$	0.01	$	0.49	$	0.25

No shares of unvested restricted stock were excluded from the calculation of diluted EPS for the three and six months ended September 30, 2021 and 2020.