Note 2 - Earnings Per Common Share

12 Months Ended

Mar. 31, 2014

Earnings Per Share: [Abstract]

Earnings Per Share [Text Block]

2.             EARNINGS PER COMMON SHARE

Basic earnings per share has been calculated by dividing net income by the weighted average number of common shares outstanding during each period. For purposes of calculating diluted earnings per share, shares issuable under stock options were considered potential common shares and were included in the weighted average common shares unless they were anti-dilutive. For the year ended March 31, 2013, options to acquire 31,000 shares of common stock were not included in computing earnings per share because their effects were anti-dilutive (none for the year ended March 31, 2014). The computation of earnings per common share is as follows:

	Year Ended March 31,
	2014		2013
Net income	$	1,466,636	$	1,669,860
Earnings Per Share:
Basic	$	0.61	$	0.68
Diluted	$	0.60	$	0.68
Weighted Average Shares Outstanding:
Basic		2,414,184		2,446,286
Diluted		2,433,058		2,454,368