AVERAGE SHARE INFORMATION

3 Months Ended

Jun. 30, 2015

The following is a summary of the basic and diluted average common shares outstanding:



	Three months ended June 30,
	2015	2014
Basic:
Weighted average common shares outstanding (denominator)	8,588,647	9,548,108

Diluted:
Weighted average common shares outstanding	8,588,647	9,548,108
Dilutive potential common shares stock options	123,313	156,555
Weighted average diluted shares outstanding (denominator)	8,711,960	9,704,663

Options to purchase 415,372 and 575,240 shares of common stock at various prices were outstanding during the three months ended June 30, 2015 and 2014 respectively, but were not included in the computation of diluted EPS because the option exercise price was anti-dilutive.

In connection with the preparation of the consolidated financial statements for the quarter ended September 30, 2014, errors in the computation and disclosure of earnings per share were identified. These errors resulted from the inclusion of restricted stock as outstanding in the basic weighted average common shares outstanding, as well as the inclusion of performance based restricted stock that had not met the necessary performance conditions as of the end of the reporting period as dilutive in the calculation of weighted average diluted shares outstanding.

The Company evaluated the materiality of these errors in accordance with SEC Staff Accounting Bulletin No. 99, Materiality, SEC Staff Accounting Bulletin No. 108, Considering the Effects of Prior Year Misstatements When Quantifying Misstatements in Current Year Financial Statements, and Accounting Standards Codification 250, Accounting for Changes and Error Corrections, and concluded that these errors, individually and in the aggregate, were immaterial to all prior periods impacted. While the adjustments were immaterial, the Company has elected to revise its previously reported basic and diluted earnings per share as shown in the following table:



	Three months ended June 30, 2014
	As Reported	As Revised
Net income (numerator)	22,555,335	22,555,335

Basic:
Weighted average common shares outstanding (denominator)	10,001,196	9,548,108

Diluted:
Weighted average common shares outstanding	10,001,196	9,548,108
Dilutive potential restricted stock and stock options	288,559	156,555
Weighted average common shares outstanding (denominator)	10,289,755	9,704,663

Net income per common share:
Basic	2.26	2.36
Diluted	2.19	2.32

The corrections have no impact on the Company’s consolidated balance sheets, net income, consolidated statement of comprehensive income, consolidated statements of shareholders equity, or consolidated statements of cash flows.