EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2018

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

10. 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 unaudited consolidated statements of operations for the three months ended June 30, 2018 and 2017, respectively (in thousands, except per share data).

	Three Months Ended June 30,
	2018		2017
Net earnings attributable to common shareholders   - basic and diluted	$	15,273	$	13,423
Basic and diluted common shares outstanding:
Weighted average common shares outstanding — basic		13,434		13,806
Effect of dilutive shares		163		213
Weighted average shares common outstanding — diluted		13,597		14,019
Earnings per common share - basic	$	1.14	$	0.97
Earnings per common share - diluted	$	1.12	$	0.96