Note 4 - Net Income Per Share

9 Months Ended

Dec. 31, 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 and

6,000

for the

nine

months ended

December 

31,

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 Dec. 31
	2017		2016
Weighted average common shares outstanding – basic		4,841,369		4,836,336
Dilutive effect of stock options		5,921		3,441
Shares used in computing net income per share – diluted		4,847,290		4,839,777

	Nine Months Ended Dec. 31
	2017		2016
Weighted average common shares outstanding – basic		4,841,130		4,835,639
Dilutive effect of stock options		4,906		2,176
Shares used in computing net income per share – diluted		4,846,036		4,837,815