Weighted Average Shares and Net Income Per Share (Tables)

9 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Calculations of Basic and Diluted Weighted Shares

The calculations of the basic and diluted weighted shares for the three and nine months ended December 31, 2014 and 2015, are as follows:

	Three Months Ended December 31,
	2014		2015
Net Income	$	6,832,000	$	6,691,000
Basic:
Weighted average common shares outstanding		20,599,000		19,673,000
Net Income per share	$	0.33	$	0.34
Diluted:
Weighted average common shares outstanding		20,599,000		19,673,000
Treasury stock impact of stock options		187,000		179,000
Total common and common equivalent shares		20,786,000		19,852,000
Net Income per share	$	0.33	$	0.34

	Nine Months Ended December 31,
	2014		2015
Net Income	$	23,014,000	$	21,859,000
Basic:
Weighted average common shares outstanding		20,784,000		19,908,000
Net Income per share	$	1.11	$	1.10
Diluted:
Weighted average common shares outstanding		20,784,000		19,908,000
Treasury stock impact of stock options		231,000		175,000
Total common and common equivalent shares		21,015,000		20,083,000
Net Income per share	$	1.10	$	1.09