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Earnings (Loss) Per Share
3 Months Ended
Jun. 30, 2012
Earnings Per Share [Abstract]  
Earnings (Loss) Per Share
NOTE 2. Earnings (Loss) Per Share

The computation of basic earnings (loss) per share is based on the weighted-average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the foregoing as well as the exercise of all dilutive stock options using the treasury stock method. The diluted loss per share is computed using the same weighted-average number of shares as the basic earnings (loss) per share computation.

The components of the denominator for basic earnings (loss) per common share and diluted earnings (loss) per common share are reconciled as follows.

 

                 
    June 30,
2012
    June 30,
2011
 
     

Basic earnings (loss) per Common Share:

               

Weighted-average common shares outstanding for basic earnings (loss) per share calculation

    9,493,000       9,445,000  
   

 

 

   

 

 

 
     

Diluted earnings (loss) per Common Share:

               

Weighted-average common shares outstanding

    9,493,000       9,445,000  

Stock options (a)

    —         119,000  
   

 

 

   

 

 

 

Weighted-average common shares outstanding for diluted earnings (loss) per share calculation

    9,493,000       9,564,000  
   

 

 

   

 

 

 

 

(a) During the three month periods ended June 30, 2012 and June 30, 2011, options to purchase 748,000 and 222,000 shares of common stock, respectively, were not included in the computation of diluted earnings per share because the exercise prices of these options were greater than the average market price of the common share.