Share-based Payments (Tables)

3 Months Ended

Jun. 30, 2015

Share-based Payments [Abstract]

Summary of Black-Scholes option pricing model assumptions used to derive weighted average fair value of stock options granted

The table below summarizes the Black-Scholes option pricing model assumptions used to derive the weighted average fair value of the stock options granted during the periods noted.

	Three Months Ended June 30,
	2015			2014
Weighted average risk-free interest rate		1.82	%		1.75	%
Weighted average expected holding period (years)		5.00			5.01
Weighted average expected volatility		49.02	%		46.02	%
Weighted average expected dividend yield		-			-
Weighted average fair value of options granted	$	13.77		$	9.65

Summary of stock option transactions

The following is a summary of stock option transactions for the three months ended June 30, 2015:

	Number of Shares			Weighted Average Exercise Price
Outstanding at March 31, 2015		1,389,254		$	9.97
Granted		2,722		$	31.10
Exercised		(183,635	)	$	9.72
Cancelled		-		$	-
Outstanding at June 30, 2015		1,208,341		$	10.05

Schedule of restricted stock units activity

The Company did not grant any shares of restricted stock during the three months ended June 30, 2015.  During the three months ended June 30, 2014, the company granted 95,645 shares of restricted stock. A summary of changes in the status of non-vested restricted stock during the three months ended June 30, 2015 is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value
Non-vested restricted stock at March 31, 2015		181,443		$	16.84
Restricted stock granted		-		$	-
Restricted stock vested		(30,417	)	$	24.27
Restricted stock cancelled		-		$	-
Non-vested restricted stock at June 30, 2015		151,026		$	15.34