Note 4 - Net Income Per Share

3 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Earnings Per Share [Text Block]

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 exercise of all stock options. Options totaling 10,000 for the quarter ended June 30, 2016 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 shows the components of diluted shares:
 

	Quarter Ended June 30
	2016		2015
Weighted average common shares outstanding – basic		4,835,010		4,854,841
Dilutive effect of stock options		2,085		6,007
Shares used in computing net income per share – diluted		4,837,095		4,860,848