Weighted Average Shares and Net Income Per Share (Tables)

6 Months Ended

Sep. 30, 2017

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 six months ended September 30, 2016 and 2017:

	Three Months Ended September 30,
	2016		2017
Net Income	$	6,952,000	$	8,393,000
Basic:
Weighted average common shares outstanding		19,581,000		18,759,000
Net Income per share	$	0.36	$	0.45
Diluted:
Weighted average common shares outstanding		19,581,000		18,759,000
Treasury stock impact of stock options		152,000		207,000
Total common and common equivalent shares		19,733,000		18,966,000
Net Income per share	$	0.35	$	0.44

	Six Months Ended September 30,
	2016		2017
Net Income	$	14,443,000	$	17,168,000
Basic:
Weighted average common shares outstanding		19,577,000		18,785,000
Net Income per share	$	0.74	$	0.91
Diluted:
Weighted average common shares outstanding		19,577,000		18,785,000
Treasury stock impact of stock options		166,000		198,000
Total common and common equivalent shares		19,743,000		18,983,000
Net Income per share	$	0.73	$	0.90