Earnings per Share

6 Months Ended

Sep. 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 September 30,				Six Months Ended September 30,
(In thousands, except per share data)	2025		2024		2025		2024
Numerator:
Net income	$	11,710	$	1,364	$	16,600	$	15,470

Denominator:
Weighted average shares outstanding - basic		27,882		27,533		27,838		27,335
Dilutive SSARs		305		432		304		571
Dilutive unvested restricted stock units		87		30		61		28
Dilutive unvested restricted shares		123		262		145		268
Weighted average shares outstanding - diluted		28,397		28,257		28,348		28,202

Income per share - basic:	$	0.42	$	0.05	$	0.60	$	0.57
Income per share - diluted:	$	0.41	$	0.05	$	0.59	$	0.55

Anti-dilutive restricted shares, restricted stock units, and performance shares		—		—		1		24

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 156,781 and 345,625 of restricted shares at September 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.