Earnings per Share

3 Months Ended

Jun. 30, 2025

8. Earnings per Share

The following data shows the amounts used in computing earnings per share and the effect on earnings and the weighted average number of shares of dilutive potential common shares.


	Three Months Ended June 30,
(In thousands, except per share data)	2025		2024
Numerator:
Net income	$	4,890	$	14,106

Denominator:
Weighted average shares outstanding - basic		27,794		27,134
Dilutive SSARs		297		710
Dilutive unvested restricted stock units		36		13
Dilutive unvested restricted shares		162		270
Weighted average shares outstanding - diluted		28,289		28,127

Income per share - basic:	$	0.18	$	0.52
Income per share - diluted:	$	0.17	$	0.50

Anti-dilutive restricted shares, restricted stock units, and performance shares		138		7

Basic income per share is computed as net income attributable to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 161,944 and 367,271 of restricted shares at June 30, 2025 and 2024, respectively, as these shares were issued but were not vested and therefore, not considered outstanding for purposes of computing basic income per share at the balance sheet dates.

Diluted income per share includes the impact of all potentially dilutive securities on earnings per share. We have stock-settled appreciation rights (SSARs), restricted shares, and restricted stock units that are potentially dilutive securities.