Weighted Average Shares and Net Income Per Share (Tables)

9 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Calculations of Basic and Diluted Weighted Average Common Shares

The following table sets forth the calculations of the basic and diluted weighted average common shares for the three and nine months ended December 31, 2020 and 2019:

	Three Months Ended December 31,
	2020		2019
Net Income	$	11,380,000	$	9,352,000
Basic:
Weighted average common shares outstanding		17,899,000		18,253,000
Net Income per share	$	0.64	$	0.51
Diluted:
Weighted average common shares outstanding		17,899,000		18,253,000
Treasury stock impact of stock options		281,000		273,000
Total common and common equivalent shares		18,180,000		18,526,000
Net Income per share	$	0.63	$	0.50

	Nine Months Ended December 31,
	2020		2019
Net Income	$	31,547,000	$	35,630,000
Basic:
Weighted average common shares outstanding		17,939,000		18,410,000
Net Income per share	$	1.76	$	1.94
Diluted:
Weighted average common shares outstanding		17,939,000		18,410,000
Treasury stock impact of stock options		217,000		285,000
Total common and common equivalent shares		18,156,000		18,695,000
Net Income per share	$	1.74	$	1.91