Earnings per Share

9 Months Ended

Dec. 31, 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 December 31,				Nine Months Ended December 31,
(In thousands, except per share data)	2025		2024		2025		2024
Numerator:
Net income	$	9,897	$	3,830	$	26,497	$	19,300

Denominator:
Weighted average shares outstanding - basic		27,970		27,667		27,882		27,446
Dilutive SSARs		301		399		303		514
Dilutive unvested restricted stock units		89		44		74		40
Dilutive unvested restricted shares		78		204		120		248
Weighted average shares outstanding - diluted		28,438		28,314		28,379		28,248

Income per share - basic:	$	0.35	$	0.14	$	0.95	$	0.70
Income per share - diluted:	$	0.35	$	0.14	$	0.93	$	0.68

Anti-dilutive restricted shares, restricted stock units, and performance shares		198		136		198		136

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 76,335 and 248,704 of restricted shares at December 31, 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.