NET INCOME PER SHARE

12 Months Ended

Mar. 31, 2012

NET INCOME PER SHARE [Abstract]

NET INCOME PER SHARE

NOTE 14.  NET INCOME PER SHARE

The following is a reconciliation of the weighted average number of common shares outstanding used in calculating basic and diluted net income per share (in thousands, except share and per share data):

	Year Ended March 31,
	2012		2011		2010
Numerator:
Net income	$	13,091	$	14,537	$	13,023
Denominator:
Weighted average common shares outstanding - basic		22,084,000		22,365,000		22,021,000
Weighted average effect of dilutive securities:
Stock options		130,000		294,000		399,000
Restricted stock units		230,000		197,000		186,000
Warrants		18,000		2,000		-
Weighted average common shares outstanding - diluted		22,462,000		22,858,000		22,606,000
Net income per share:
Basic net income per share	$	0.59	$	0.65	$	0.59
Diluted net income per share	$	0.58	$	0.64	$	0.58

Stock options and warrants are excluded from the computation of diluted weighted average shares outstanding if the exercise price of the stock options and warrants is greater than the average market price of our common stock during the period because the inclusion of these stock options and warrants would be antidilutive to net income per share.  There were no stock options and warrants excluded from the computation of diluted weighted average shares outstanding during fiscal 2012, 2011 and 2010.

We excluded the following restricted stock units from the computation of diluted weighted average shares outstanding because the inclusion of these awards would be antidilutive to net income per share:

	Year Ended March 31,
	2012		2011		2010
Weighted average number of shares underlying antidilutive restricted stock units		267,000		213,000		65,000