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Stock-Based Compensation (Tables)
6 Months Ended
Sep. 30, 2012
Stock-Based Compensation  
Schedule of amounts recognized in the condensed financial statements related to stock-based compensation

 

 

 

 

Three months ended
September 30,

 

Six months ended
September 30,

 

 

 

2012

 

2011

 

2012

 

2011

 

Total cost of stock-based compensation charged against income before income taxes

 

$

289

 

$

96

 

$

438

 

$

192

 

Amount of income tax benefit recognized in earnings

 

101

 

35

 

151

 

70

 

Amount charged against net income

 

$

188

 

$

61

 

$

287

 

$

122

 

Impact on net income per common share:

 

 

 

 

 

 

 

 

 

Basic

 

$

0.06

 

$

0.02

 

$

0.09

 

$

0.04

 

Diluted

 

0.05

 

0.02

 

0.08

 

0.04

 

 

Schedule of Black-Scholes assumptions

 

 

 

 

Six months ended September 30,

 

 

 

2012

 

2011

 

Volatility

 

31.1

%

33.4

%

Risk-free interest rate

 

0.6 – 1.0

%

2.2 - 3.6

%

Expected option life (years)

 

5 – 10

 

5 – 10

 

Dividend yield

 

1.5

%

1.7

%

 

Summary of stock option activity

 

 

 

 

Number of
Shares

 

Weighted-
average
Exercise Price
per Share

 

Weighted-
average
Remaining
Contractual
Term

 

Aggregate
Intrinsic Value
(000s)

 

Outstanding at March 31, 2012

 

433,785

 

$

22.77

 

3.9

 

 

 

Options granted

 

103,880

 

50.20

 

5.9

 

 

 

Options forfeited

 

(31,050

)

33.06

 

 

 

 

 

Options expired

 

(40

)

18.98

 

 

 

 

 

Options exercised

 

(47,495

)

21.56

 

 

 

 

 

Outstanding at September 30, 2012

 

459,080

 

28.41

 

 

 

$

13,041

 

 

 

 

 

 

 

 

 

 

 

Exercisable at September 30, 2012

 

192,530

 

20.70

 

3.1

 

3,986

 

 

Summary of the status of unvested option shares

 

 

 

 

Number of
Shares

 

Weighted-
average
Grant-Date
Fair Value

 

Unvested at March 31, 2012

 

284,875

 

$

7.23

 

Options granted

 

103,880

 

12.37

 

Options forfeited

 

(31,050

)

8.92

 

Options vested

 

(91,155

)

6.80

 

Unvested at September 30, 2012

 

266,550

 

9.18