Weighted Average Shares and Net Income Per Share (Tables)

9 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Calculations of Basic and Diluted Weighted Average Shares

The following table sets forth the calculations of the basic and diluted weighted average shares for the three and nine months ended December 31, 2015 and 2016:

	Three Months Ended December 31,
	2015		2016
Net Income	$	6,691,000	$	7,049,000
Basic:
Weighted average common shares outstanding		19,673,000		19,426,000
Net Income per share	$	0.34	$	0.36
Diluted:
Weighted average common shares outstanding		19,673,000		19,426,000
Treasury stock impact of stock options		179,000		123,000
Total common and common equivalent shares		19,852,000		19,549,000
Net Income per share	$	0.34	$	0.36

	Nine Months Ended December 31,
	2015		2016
Net Income	$	21,859,000	$	21,492,000
Basic:
Weighted average common shares outstanding		19,908,000		19,526,000
Net Income per share	$	1.10	$	1.10
Diluted:
Weighted average common shares outstanding		19,908,000		19,526,000
Treasury stock impact of stock options		175,000		153,000
Total common and common equivalent shares		20,083,000		19,679,000
Net Income per share	$	1.09	$	1.09