EMPLOYEE STOCK OPTION PLANS (Tables)

6 Months Ended

Sep. 30, 2012

EMPLOYEE STOCK OPTION PLANS [Abstract]

Summary of assumptions used in the valuation of option grants

The following table summarizes the 2009 Plan and the 1999 Plan price per option at grant date using the Black-Scholes pricing model:

			Black-Scholes Pricing Model Assumptions
Date of Issuance	Weighted Average  Fair Value		Expected Dividend Yield			Risk- Free Interest Rate			Expected Volatility			Expected Life  (in years)
2009 Plan
July 18, 2011	$	33.07		0.83	%		1.45	%		40.0	%		5
July 19, 2010	$	28.58		0.91	%		1.73	%		37.5	%		5
March 22, 2010	$	32.56		0.84	%		2.43	%		37.8	%		5
October 19, 2009	$	25.36		1.04	%		2.36	%		37.6	%		5
1999 Plan
July 30, 2008	$	29.93		0.62	%		3.36	%		20.2	%		5
July 21, 2008	$	27.35		0.67	%		3.41	%		20.2	%		5
July 16, 2007	$	41.78		0.39	%		4.95	%		19.9	%		5
July 17, 2006	$	33.05		0.61	%		5.04	%		21.2	%		7
May 15, 2006	$	31.28		0.64	%		5.08	%		21.1	%		7

Summary of option activity

The following table summarizes activity in the 2009 Plan and the 1999 Plan as of September 30, 2012:

	Number of Shares			Weighted  Average  Exercise Price
2009 Plan
Balance at March 31, 2011		73,750		$	84.24
Granted		10,000			96.92
Exercised		–			–
Canceled		–			–
Balance at March 31, 2012		83,750		$	85.75
Granted		–			–
Exercised		(18,800	)		78.87
Canceled		(14,000	)		95.35
Balance at September 30, 2012		50,950		$	88.28
1999 Plan
Balance at March 31, 2011		96,500		$	114.78
Granted		–			–
Exercised		(1,500	)		65.70
Canceled		–			–
Balance at March 31, 2012		95,000		$	113.63
Granted		–			–
Exercised		(16,090	)		95.36
Canceled		(10,395	)		108.23
Balance at September 30, 2012		68,515		$	129.61
Combined Balance at September 30, 2012		119,465		$	111.98

September 30, 2012	Weighted Average Aggregate  Intrinsic Remaining Contractual Term	Value
Outstanding	1.7 years	$	3,702,185
Exercisable	1.1 years	$	2,303,485

Restricted stock available for issuance

Restricted stock available for issuance as of March 31, 2012	37,350
Less restricted stock forfeited during the year
	3,000
Restricted stock available for issuance as of September 30, 2012	40,350

Restricted stock awards activity

The following table represents a summary of the activity for our restricted stock awards for the fiscal year ended September 30, 2012:

Restricted Stock Awards	Number of Shares		Weighted Average Fair Value Per Share		Weighted Average Remaining Vesting Term  (in Years)
Unvested at March 31, 2012		9,650	$	83.60		4.8
Granted		−		−		−
Vested		−		−		−
Forfeited or expired		3,000	$	83.60		−
Unvested at September 30, 2012		6,650	$	83.60		4.3

Phantom stock awards activity

The following table represents a summary of the activity for our phantom stock plan for the fiscal year ended September 30, 2012:

Phantom Stock Awards	Number of Shares		Exercise Price Per Share		Weighted  Average Remaining Vesting Term (in Years)
Unvested at March 31, 2012		26,000	$	146.95		4.8
Granted		−		−		−
Vested		−		−		−
Forfeited or expired		7,500	$	146.95		−
Unvested at September 30, 2012		18,500	$	146.95		4.3