Note 3 - Net Earnings Per Share

6 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

3. Net Earnings Per Share

Basic earnings per share has 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 September 30,				Six Months Ended September 30,
		2014		2013		2014		2013
Net Earnings		$	1,818,306	$	456,110	$	1,891,103	$	594,621
Earnings Per Share:
	Basic	$	0.77	$	0.19	$	0.80	$	0.24
	Diluted	$	0.77	$	0.18	$	0.80	$	0.24
Weighted Average Shares Outstanding:
	Basic		2,355,028		2,446,286		2,355,028		2,446,286
	Diluted		2,375,398		2,485,246		2,375,660		2,477,047

For the three months ended September 30, 2013, options to acquire 11,000 shares of common stock, and for the six months ended September 30, 2013 options to acquire 23,500 shares of common stock, were not included in computing diluted earnings per common share because their effects were anti-dilutive. No options were anti-dilutive for three and six months ending September 30, 2014.