Net Income Per Share

6 Months Ended

Sep. 30, 2013

Net Income Per Share [Abstract]

Net Income Per Share

NOTE 4. NET INCOME PER SHARE
     Net income per basic share is computed based on the weighted-average number of common shares issued and outstanding during each period. Net income per diluted share amounts assume conversion, exercise or issuance of all potential common stock instruments (stock options and warrants). Stock options totaling 13,000 for the quarter and six months ended September 30, 2013 were not included in the computation of diluted earnings per share because the exercise prices of the options and warrants were greater than the market price of the common stock and are considered anti-dilutive. The following table reflects the components of common shares outstanding:
 
 

	Quarter Ended Sept. 30
	2013	2012
Weighted average common shares outstanding – basic	4,852,178	4,825,441
Effect of dilutive securities:
Stock options	20,435	57,363
Warrants	493	1,852
Shares used in computing net income per share – diluted	4,873,106	4,884,656

	Six Months Ended Sept. 30
	2013	2012
Weighted average common shares outstanding – basic	4,857,279	4,825,095
Effect of dilutive securities:
Stock options	20,798	55,646
Warrants	522	1,783
Shares used in computing net income per share – diluted	4,878,599	4,882,524