Note 4 - Net Income Per Share

3 Months Ended

Jun. 30, 2015

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 7,000 for the quarter ended June 30, 2014 were not included in the computation of diluted earnings per share because the exercise prices were greater than the market price of the common stock. The following table reflects the components of common shares outstanding:

	Quarter Ended June 30
	2015		2014
Weighted average common shares outstanding – basic		4,854,841		4,851,043
Effect of dilutive securities:
Stock options		6,007		15,814
Warrants		-		602
Shares used in computing net income per share – diluted		4,860,848		4,867,459