Note 2 - Earning Per Common Share

12 Months Ended

Mar. 31, 2015

Notes to Financial Statements

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, 2015 all options to acquire shares of common stock were included in computing earnings per share because their effects were dilutive. The computation of earnings per common share is as follows:

	Year Ended March 31,
	2015		2014
Net income	$	2,483,926	$	1,466,636
Earnings Per Share:
Basic	$	1.05	$	0.61
Diluted	$	1.04	$	0.60
Weighted Average Shares Outstanding:
Basic		2,359,610		2,414,184
Diluted		2,379,928		2,433,058