Note N - Earnings Per Share

3 Months Ended

Jun. 30, 2023

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 (in thousands, except for share data):

	Three Months Ended
	June 30,
	2023		2022
Numerator (basic and diluted)
Net earnings	$	7,690	$	11,184
Less: Allocation to unvested restricted stock units		90		196
Net earnings attributable to common shareholders	$	7,600	$	10,988
Denominator (basic and diluted)
Weighted average common shares outstanding		7,288,906		7,071,066

For the three months ended June 30, 2023 and 2022, 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
	June 30,
	2023		2022
Restricted Stock Units		60,524		69,702