Note 7 - Net Income Per Share

3 Months Ended

Jun. 30, 2017

Note

- Net Income Per Share

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted net income per share is computed similarly to basic net income per share, except that it includes the potential dilution that could occur if dilutive securities were exercised.

The following table presents a reconciliation of the denominators used in the computation of net income per share - basic and diluted (in thousands, except per share data):

	Three Months Ended
	June 30 ,
	2017		2016
Net income available for stockholders	$	1,517	$	1,930
Weighted average outstanding shares of common stock		3,736		3,646
Dilutive effect of stock options		187		156
Common stock and equivalents		3,923		3,802

Net income per share:
Basic	$	0.41	$	0.53
Diluted		0.39		0.51

For the

three

months ended

June 30, 2017

and

2016,

117,000

and

184,000

outstanding stock options, respectively, were excluded from the calculation of diluted net income per share as their inclusion would have been anti-dilutive.