Note 4 - Earnings Per Share

12 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

4. Earnings per Share

Earnings per share for fiscal years 2023, 2022 and 2021 are as follows (in thousands, except per share amounts):

	Fiscal Year:
	2023		2022		2021
	(Restated)		(Restated)
Basic
Net earnings	$	9,231	$	46,200	$	126,100
Deduct preferred stock dividends		23		23		23
Undistributed earnings		9,208		46,177		126,077
Earnings attributable to participating preferred shareholders		30		178		493
Earnings attributable to common shareholders	$	9,178	$	45,999	$	125,584
Weighted average common shares outstanding		7,796		8,707		9,088
Basic earnings per common share	$	1.19	$	5.28	$	13.82
Diluted
Earnings attributable to common shareholders	$	9,178	$	45,999	$	125,584
Add dividends on convertible preferred stock		20		20		20
Earnings attributable to common stock on a diluted basis	$	9,198	$	46,019	$	125,604
Weighted average common shares outstanding-basic		7,796		8,707		9,088
Additional shares to be issued related to the equity compensation plan		7		4		3
Additional shares to be issued under full conversion of preferred stock		67		67		67
Total shares for diluted		7,870		8,778		9,158
Diluted earnings per share	$	1.16	$	5.24	$	13.72