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Note 8 - Earnings per Share
6 Months Ended
Sep. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 8. Earnings Per Share

 

The following table presents a reconciliation of the denominators used in the computation of basic and diluted earnings per share ("EPS"):

 

  

Three Months Ended September 30,

  

Six Months Ended September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Net income available for shareholders

 $2,476  $3,428  $7,218  $6,816 

Weighted average outstanding shares of common stock

  5,512   5,413   5,488   5,405 

Dilutive effect of RSUs

  23   58   55   43 

Fully diluted shares

  5,535   5,471   5,543   5,448 
                 

Basic earnings per share

 $0.45  $0.63  $1.32  $1.26 

Diluted earnings per share

 $0.45  $0.63  $1.30  $1.25 

 

Potentially dilutive securities include stock options and unvested time and performance based RSUs (collectively "stock awards"). Stock awards are excluded from the calculation of diluted EPS if they are subject to performance or market conditions that have not yet been achieved as of our reporting date, or if their inclusion would be antidilutive. Shares underlying the Notes were also potentially dilutive until they matured on August 15, 2025; however, these shares have been excluded from the diluted EPS calculation for the amount of time they remained outstanding during three and six months ended September 30, 2025 and 2024 as assumed conversion under the if-converted method was antidilutive in each period. 

 

The following potentially dilutive securities were excluded from the calculation of diluted EPS:

 

  

Three Months Ended September 30,

  

Six Months Ended September 30,

 
  

2025

  

2024

  

2025

  

2024

 

Assumed conversion of the Notes

  170   344   257   358 

Stock awards that were anti-dilutive

  294   218   228   213 

Total stock awards excluded from diluted EPS

  464   562   485   571