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Weighted Average Shares and Net Income Per Share
6 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Weighted Average Shares and Net Income Per Share

Note 5 — Weighted Average Shares and Net Income Per Share

Net income per common and common equivalent share was computed by dividing net income by the weighted average number of common and common share equivalents outstanding during the period. The following table sets forth the calculations of the basic and diluted weighted average common shares for the three and six months ended September 30, 2024 and 2023:

 

 

 

Three Months Ended September 30,

 

 

 

2024

 

 

2023

 

Net Income

 

$

23,398,000

 

 

$

19,898,000

 

Basic:

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

17,133,000

 

 

 

17,123,000

 

Net Income per share

 

$

1.37

 

 

$

1.16

 

Diluted:

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

17,133,000

 

 

 

17,123,000

 

Treasury stock impact of stock options

 

 

208,000

 

 

 

223,000

 

Total common and common equivalent shares

 

 

17,341,000

 

 

 

17,346,000

 

Net Income per share

 

$

1.35

 

 

$

1.15

 

 

 

 

Six Months Ended September 30,

 

 

 

2024

 

 

2023

 

Net Income

 

$

44,975,000

 

 

$

39,703,000

 

Basic:

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

17,127,000

 

 

 

17,133,000

 

Net Income per share

 

$

2.63

 

 

$

2.32

 

Diluted:

 

 

 

 

 

 

Weighted average common shares outstanding

 

 

17,127,000

 

 

 

17,133,000

 

Treasury stock impact of stock options

 

 

200,000

 

 

 

232,000

 

Total common and common equivalent shares

 

 

17,327,000

 

 

 

17,365,000

 

Net Income per share

 

$

2.60

 

 

$

2.29