Note 4 - Net Income Per Share

9 Months Ended

Dec. 31, 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. Stock options totaling

4,000

for the quarter ended

December

31,

2016,

6,000

for the

nine

months ended

December

31,

2016,

10,000

for the quarter ended

December

31,

2015,

and

4,000

for the

nine

months ended

December

31,

2015

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 tables show the components of diluted shares:
 

	Quarter Ended Dec. 31
	2016		2015
Weighted average common shares outstanding – basic		4,836,336		4,844,845
Dilutive effect of stock options		3,441		2,125
Shares used in computing net income per share – diluted		4,839,777		4,846,970

	Nine Months Ended Dec. 31
	2016		2015
Weighted average common shares outstanding – basic		4,835,639		4,853,970
Dilutive effect of stock options		2,176		3,133
Shares used in computing net income per share – diluted		4,837,815		4,857,103