Earnings (Loss) Per Share

6 Months Ended

Sep. 30, 2013

Earnings (Loss) Per Share

NOTE2.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 (loss) per share assumes the foregoing as well as the exercise of all dilutive stock options using the treasury stock method. The diluted earnings (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.

	Three Months Ended					Six Months Ended
	September30, 2013		September30, 2012		September30, 2013			September30, 2012
Basic earnings (loss) per Common Share:
Weighted-average common shares outstanding for basic earnings (loss) per share calculation		9,644,000		9,499,000			9,608,000		9,496,000
Diluted earnings (loss) per Common Share:
Weighted-average common shares outstanding		9,644,000		9,499,000			9,608,000		9,496,000
Stock options (a)		—		41,000			97,000		53,000
Weighted-average common shares outstanding for diluted earnings (loss) per share calculation		9,644,000		9,540,000			9,705,000		9,549,000

(a)During the three and six month periods ended September30, 2013, options to purchase 109,500 and 271,000 shares of common stock, respectively, and during the three and six month periods ended September30, 2012, options to purchase 732,000 and 740,000 shares of common stock, respectively, were excluded from the computation of diluted earnings (loss) per share because the exercise prices of these options were greater than the average market price of the common share and the effect of their conversion would be antidilutive.