Note N - Earnings Per Share

9 Months Ended

Dec. 31, 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					Nine Months Ended
	December 31,					December 31,
	2022		2021			2022		2021
Numerator (basic and diluted)
Net earnings (loss)	$	1,375,893	$	(2,961,833	)	$	15,031,175	$	21,527,578
Less: Allocation to unvested restricted stock units		18,656		5,992			240,482		966,761
Net earnings (loss) attributable to common shareholders	$	1,357,237	$	(2,967,825	)	$	14,790,693	$	20,560,817
Denominator (basic and diluted)
Weighted average common shares outstanding		7,275,212		6,610,204			7,196,452		6,593,343

For the three and nine month periods ended December 31, 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				Nine Months Ended
	December 31,				December 31,
	2022		2021		2022		2021
Restricted Stock Units		56,621		239,485		48,510		232,601