Note N - Earnings Per Share

9 Months Ended

Dec. 31, 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				Nine Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
Numerator (basic and diluted)
Net earnings	$	1,184	$	1,376	$	12,387	$	15,031
Less: Allocation to unvested restricted stock units		10		19		131		240
Net earnings attributable to common shareholders	$	1,174	$	1,357	$	12,256	$	14,791
Denominator (basic and diluted)
Weighted average common shares outstanding		7,245,183		7,275,212		7,274,332		7,196,452

For the nine months ended December 31, 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				Nine Months Ended
	December 31,				December 31,
	2023		2022		2023		2022
Restricted Stock Units		48,840		56,621		42,709		48,510