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Earnings Per Share
 9 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

10.       Earnings Per Share

 

The following table sets forth the computation of basic and diluted earnings per share (in thousands):

 

  Three months ended Nine Months Ended
  December 31, 2012 December 31, 2011 December 31, 2012 December 30, 2011
Numerator for basic and diluted earnings per share:        
Net income$ 9,579$ 8,515$ 26,267$ 17,970
         
Denominators:        
Weighted-average common stock outstanding – denominator for basic EPS  19,451  19,313  19,406  19,256
Effect of dilutive employee stock options and other share-based awards  246  175  214  270
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS  19,697  19,488  19,620  19,526

Stock options and performance shares amounting to 275,000 and 448,000 common shares for the three month periods ended December 31, 2012 and 2011, respectively were not included in the computation of diluted earnings per share because they were antidilutive. Stock options and performance shares amounting to 275,000 and 215,000 common shares for the nine month periods ended December 31, 2012, and 2011, respectively were not included in the computation of diluted earnings per share respectively, because they were antidilutive.

 

On July 26, 2010, the shareholders of the Company approved the 2010 Long Term Incentive Plan (“LTIP”).  The Company grants share based compensation to eligible participants under the LTIP.  The total number of shares of common stock with respect to which awards may be granted under the plan is 1,250,000 including shares not previously authorized for issuance under any of the Prior Stock Plans and any shares not issued or subject to outstanding awards under the Prior Stock Plans.  

 

During the first nine months of fiscal 2013 and 2012, a total of 30,798 and 165,544 shares of common stock were issued upon the exercising of stock options related to the Company's stock option plans. During the fiscal year ended March 31, 2012, 49,254 shares of restricted stock vested and were issued.

 

Refer to the Company's consolidated financial statements included in its Form 10-K for the year ended March 31, 2012 for further information on its earnings per share and stock plans.