EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2017

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

9. EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period.

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our consolidated statements of operations for the three months ended June 30, 2017 and 2016 (in thousands, except per share data).

	Three Months Ended June 30,
	2017		2016
Net earnings attributable to common shareholders - basic and diluted	$	13,423	$	10,671
Basic and diluted common shares outstanding:
Weighted average common shares outstanding — basic		13,806		14,066
Effect of dilutive shares		213		150
Weighted average shares common outstanding — diluted		14,019		14,216
Earnings per common share - basic	$	0.97	$	0.76
Earnings per common share - diluted	$	0.96	$	0.75