Note N - Earnings Per Share

6 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE N — EARNINGS PER SHARE

Basic and dilutive net earnings per share is computed based on the following information:

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Numerator (basic and diluted)
Net earnings	$	2,470,908	$	13,177,614	$	13,655,282	$	24,489,411
Less: Allocation to unvested restricted stock units		42,249		608,873		236,244		1,124,767
Net earnings attributable to common shareholders	$	2,428,659	$	12,568,741	$	13,419,038	$	23,364,644
Denominator (basic and diluted)
Weighted average common shares outstanding		7,243,080		6,584,912		7,157,073		6,584,912

For the three and six month periods ended September 30, 2022 and 2021, the Company allocated dividends and undistributed earnings to the unvested restricted stock units. 

As the restricted stock qualifies as participating securities, the following restricted stock units were not accounted in the computation of weighted average diluted common shares outstanding under the two-class method:

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Restricted Stock Units		76,811		263,552		73,211		254,759