Note 12 - Earnings Per Share

6 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

12. EARNINGS PER SHARE

Basic earnings per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings per share is computed on the basis of the weighted average number of common shares outstanding plus the potentially dilutive effect of outstanding stock options using the treasury stock method.

Reconciliations between the numerator and the denominator of the basic and diluted income per share computations for the

three

and

six

months ended

September 30, 2020

and

2019

are as follows:

	Three Months Ended September 3 0 , 20 20
	Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands)
Basic income per share	$	155		6,054	$	0.03
Effective dilutive securities – common stock options and restricted stock units		—		109		—
Diluted income per share	$	155		6,163	$	0.03

	Three Months Ended September 3 0 , 20 19
	Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands)
Basic income per share	$	228		5,965	$	0.04
Effective dilutive securities – restricted stock units		—		8		—
Diluted income per share	$	228		5,973	$	0.04

	Six Months Ended September 3 0 , 20 20
	Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands)
Basic income per share	$	293		6,042	$	0.05
Effective dilutive securities – common stock options and restricted stock units		—		105		—
Diluted income per share	$	293		6,147	$	0.05

	Six Months Ended September 3 0 , 20 19
	Net Income		Shares		Per Share
	(Numerator)		(Denominator)		Amount
	(in thousands)
Basic income per share	$	95		5,942	$	0.02
Effective dilutive securities – restricted stock units		—		21		—
Diluted income per share	$	95		5,963	$	0.02

Restricted stock units become dilutive within the period granted and remain dilutive until the units vest and are issued as common stock.