Note 3 - Net Earnings Per Share

9 Months Ended

Dec. 31, 2013

Earnings Per Share: [Abstract]

Earnings Per Share [Text Block]

3.        Net Earnings Per Share

Basic earnings per share have been calculated by dividing net earnings by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings per share, shares issuable under employee and director stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive.

The computation of basic and diluted earnings per common share is as follows:

		Three Months Ended December 31,				Nine Months Ended December 31,
		2013		2012		2013		2012
Net earnings		$	454,897	$	632,760	$	1,049,518	$	1,277,205
Earnings Per Share:
	Basic	$	0.19	$	0.26	$	0.43	$	0.52
	Diluted	$	0.19	$	0.26	$	0.43	$	0.52
Weighted Average Shares Outstanding:
	Basic		2,408,198		2,446,286		2,433,544		2,446,286
	Diluted		2,441,569		2,447,349		2,458,040		2,450,837

For the three months ended December 31, 2012, options to acquire 43,500 shares of common stock (none for the three months ended December 31, 2013) and for the nine months ended December 31, 2013 and 2012, respectively, options to acquire 10,000 and 43,500 shares of common stock, were not included in computing diluted earnings per common share because their effects were anti-dilutive.