Note 4 - Net Income Per Share

6 Months Ended

Sep. 30, 2017

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

September 

30,

2017

and

6,000

for the quarter and

14,000

for the

six

months ended

September 

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 tables show the components of diluted shares:

 

	Quarter Ended Sept. 30
	2017		2016
Weighted average common shares outstanding – basic		4,841,010		4,835,564
Dilutive effect of stock options		4,622		2,255
Shares used in computing net income per share – diluted		4,845,632		4,837,819

	Six Months Ended Sept. 30
	2017		2016
Weighted average common shares outstanding – basic		4,841,010		4,835,289
Dilutive effect of stock options		4,897		2,004
Shares used in computing net income per share – diluted		4,845,907		4,837,293