Note 3 - Net Earnings Per Share

6 Months Ended

Sep. 30, 2015

Notes to Financial Statements

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,
	2015		2014		2015		2014
Net Income	$	3,793,960	$	1,818,306	$	3,057,920	$	1,891,103
Earnings Per Share:
Basic	$	1.60	$	0.77	$	1.29	$	0.80
Diluted	$	1.58	$	0.77	$	1.28	$	0.80
Weighted Average Shares Outstanding:
Basic		2,372,527		2,355,028		2,372,527		2,355,028
Diluted		2,397,163		2,375,398		2,396,460		2,375,660

For the three and six-month period ended September 30, 2015 and 2014, there were no stock options outstanding that were anti-dilutive.