Net Income Per Share

9 Months Ended

Dec. 31, 2012

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 4. NET INCOME PER SHARE
Net income per basic share is computed based on the weighted-average number of common shares issued and outstanding during each period. Net income per diluted share amounts assume conversion, exercise or issuance of all potential common stock instruments (stock options and warrants). Stock options and warrants totaling 5,000 for the quarter and nine months ended December 31, 2012, and 5,000 for the quarter and nine months ended December 31, 2011 were not included in the computation of diluted earnings per share because the exercise prices of the options and warrants were greater than the market price of the common stock. The following table reflects the components of common shares outstanding:

	Quarter Ended Dec. 31
	2012	2011
Weighted average common shares outstanding – basic	4,847,619	4,807,859
Effect of dilutive securities:
Stock options	22,594	58,502
Warrants	1,806	7,068
Shares used in computing net income per share – diluted	4,872,019	4,873,429

	Nine Months Ended Dec. 31
	2012	2011
Weighted average common shares outstanding – basic	4,832,630	4,786,790
Effect of dilutive securities:
Stock options	22,430	58,502
Warrants	1,791	7,068
Shares used in computing net income per share – diluted	4,856,851	4,852,360