Note N - Earnings Per Share

6 Months Ended

Sep. 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				Six Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Numerator (basic and diluted)
Net earnings	$	3,513	$	2,471	$	11,203	$	13,655
Less: Allocation to unvested restricted stock units		41		42		131		236
Net earnings attributable to common shareholders	$	3,472	$	2,429	$	11,072	$	13,419
Denominator (basic and diluted)
Weighted average common shares outstanding		7,288,906		7,243,080		7,288,906		7,157,073

For the six months ended September 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				Six Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Restricted Stock Units		72,910		76,811		67,712		73,211