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Weighted Average Shares and Net Income Per Share | 3 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Weighted Average Shares and Net Income Per Share | Note 5 — Weighted Average Shares and Net Income Per Share Basic weighted average common shares outstanding decreased to 17,122,000 for the quarter ended June 30, 2024 from 17,144,000 for the quarter ended June 30, 2023. Diluted weighted average common and common equivalent shares outstanding decreased to 17,313,000 for the quarter ended June 30, 2024 from 17,385,000 for the quarter ended June 30, 2023. Net income per common and common equivalent share was computed by dividing net income by the weighted average number of common and common share equivalents outstanding during the period. The following table sets forth the calculations of the basic and diluted weighted average common shares for the three months ended June 30, 2024 and 2023:
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Net Income |  | $ | 21,577,000 |  |  | $ | 19,805,000 |
Basic: |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 17,122,000 |  |  |  | 17,144,000 |
Net Income per share |  | $ | 1.26 |  |  | $ | 1.16 |
Diluted: |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 17,122,000 |  |  |  | 17,144,000 |
Treasury stock impact of stock options |  |  | 191,000 |  |  |  | 241,000 |
Total common and common equivalent shares |  |  | 17,313,000 |  |  |  | 17,385,000 |
Net Income per share |  | $ | 1.25 |  |  | $ | 1.14 |

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