Earnings Per Share

6 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method.

Earnings Per Share

Earnings Per Share

Basic earnings per common share is computed based on the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per common share is computed based on the combination of dilutive common share equivalents, comprised of shares issuable under the Company's stock-based compensation plans and the weighted-average number of common shares outstanding during the reporting period. Dilutive common share equivalents include the dilutive effect of in-the-money options to purchase shares, which is calculated based on the average share price for each period using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	September 30, 2017		October 1, 2016		September 30, 2017		October 1, 2016
Net income	$	6,182	$	9,341	$	17,935	$	14,784
Weighted average shares outstanding:
Basic	9,020,834		8,980,303		9,013,917		8,958,784
Common stock equivalents—treasury stock method	161,065		120,530		157,598		133,869
Diluted	9,181,899		9,100,833		9,171,515		9,092,653
Net income per share:
Basic	$	0.69	$	1.04	$	1.99	$	1.65
Diluted	$	0.67	$	1.03	$	1.96	$	1.63

Anti-dilutive common stock equivalents excluded from the computation of diluted earnings per share for the three and six months ended September 30, 2017were 4,867 and 8,432, respectively. There were 4,155 and 7,941 anti-dilutive common stock equivalents excluded for the three and six months ended October 1, 2016, respectively.