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STOCK-BASED COMPENSATION (Tables)

6 Months Ended

Sep. 30, 2017

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

Fair value was estimated at grant date using the weighted-average assumptions listed below:

	Three months ended September 30,				Six months ended September 30,
	2017		2016		2017		2016
Dividend Yield	—%		—%		—%		—%
Expected Volatility	—%		—%		50.33%		56.18%
Average risk-free rate	—%		—%		1.85%		1.37%
Expected Life	0.0 years		0.0 years		5.0 years		5.9 years

Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]

Group B awards would have vested as follows, if the Company achieved the following performance goals during any successive trailing four quarters during the measurement period ending on March 31, 2017:

Trailing 4 quarter EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
$13.00		25%
$14.50		25%
$16.00		25%
$18.00		25%

Group A awards vested on April 30, 2015 based on the Company's achievement of the following performance goals as of March 31, 2015:

EPS Target		Restricted Shares Eligible for Vesting (Percentage of Award)
$10.29		100%
$9.76		67%
$9.26		33%
Below $9.26		0%

Summary schedule of stock option activity

ption activity for the six months ended September 30, 2017 was as follows:

	Shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding, beginning of period	860,741			$	67.28
Granted during period	1,020			50.32
Exercised during period	(115,819	)		58.41
Forfeited during period	(13,889	)		62.85
Expired during period	(11,484	)		79.26
Options outstanding, end of period	720,569			$	68.57			6.1 years		$	11,313,328
Options exercisable, end of period	423,234			$	72.01			5.3 years		$	5,252,313

Intrinsic value of options exercised

The total intrinsic value of options exercised during the periods ended September 30, 2017 and 2016 was as follows:

	September 30, 2017				September 30, 2016
Three months ended	$	451,718			$	24,916
Six months ended	$	2,676,597			$	112,939

Summary of the status and changes restricted stock

A summary of the status of the Company’s restricted stock as of September 30, 2017, and changes during the six months ended September 30, 2017, are presented below:

	Shares			Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2017	111,361			$	43.11
Granted during the period	—			—
Vested during the period	(816	)		43.49
Forfeited during the period	—			—
Outstanding at September 30, 2017	110,545			$	43.11

Share-based compensation included as a component of net income

Total share-based compensation included as a component of net income during the three and six-month periods ended September 30, 2017 and 2016 was as follows:

	Three months ended September 30,							Six months ended September 30,
	2017				2016			2017			2016
Share-based compensation related to equity classified awards:
Share-based compensation related to stock options	$	572,916			616,756			1,122,227			982,420
Share-based compensation related to restricted stock, net of adjustments and exclusive of cancellations	707,352				236,006			1,290,118			423,868
Total share-based compensation related to equity classified awards	$	1,280,268			852,762			2,412,345			1,406,288

X

- Definition

Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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