EARNINGS PER SHARE (Tables)

6 Months Ended

Sep. 30, 2014

EARNINGS PER SHARE [Abstract]

Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our unaudited condensed consolidated statements of operations for the three and six months ended September 30, 2014 and September 30, 2013 (in thousands, except per share data).

	Three months ended September 30,				Six months ended September 30,
	2014		2013		2014		2013
Basic and diluted shares outstanding
Weighted average common shares outstanding — basic		7,320		7,976		7,412		7,945
Effect of dilutive shares		25		44		49		62
Weighted average common shares outstanding — diluted		7,345		8,020		7,461		8,007
Calculation of earnings per share - basic
Net earnings	$	11,952	$	8,591	$	21,429	$	16,441
Net earnings attributable to participating securities		-		66		55		192
Net earnings attributable to common shareholders	$	11,952	$	8,525	$	21,374	$	16,249
Earnings per share - basic	$	1.63	$	1.07	$	2.88	$	2.05
Calculation of earnings per share - diluted
Net earnings attributable to common shareholders— basic	$	11,952	$	8,525	$	21,374	$	16,249
Add: undistributed earnings attributable to participating securities		-		-		1		1
Net earnings attributable to common shareholders— diluted	$	11,952	$	8,525	$	21,375	$	16,250
Earnings per share - diluted	$	1.63	$	1.06	$	2.86	$	2.03