EARNINGS PER SHARE (Tables)

6 Months Ended

Sep. 30, 2013

Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share

The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net earnings per common share as disclosed in our unaudited condensed consolidated statements of operations for the three and six months ended September 30, 2013 and September 30, 2012 (in thousands, except per share data).

	Three Months Ended				Six Months Ended
	September 30,				September 30,
	2013		2012		2013		2012
Basic and diluted shares outstanding
Weighted average shares outstanding — basic		7,976		7,770		7,945		7,745
Effect of dilutive shares		44		77		62		77
Weighted average shares outstanding — diluted		8,020		7,847		8,007		7,822

Calculation of earnings per share - basic
Net earnings	$	8,591	$	10,033	$	16,441	$	18,095
Net earnings attributable to participating securities		66		234		192		497
Net earnings attributable to common shareholders	$	8,525	$	9,799	$	16,249	$	17,598

Earnings per share - basic	$	1.07	$	1.26	$	2.05	$	2.27

Calculation of earnings per share - diluted
Net earnings attributable to common shareholders— basic	$	8,525	$	9,799	$	16,249	$	17,598
Add: undistributed earnings attributable to participating securities		-		2		1		5
Net earnings attributable to common shareholders— diluted	$	8,525	$	9,801	$	16,250	$	17,603

Earnings per share - diluted	$	1.06	$	1.25	$	2.03	$	2.25