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Corrections to Previously Issued Financial Statements
 9 Months Ended
Dec. 31, 2014
Corrections to Previously Issued Financial Statements [Abstract]  
Corrections to Previously Issued Financial Statements
Corrections to Previously Issued Financial Statements

In connection with the preparation of the financial statements, errors in the computation and disclosure of diluted net income per share were identified for the three and nine months ended December 31, 2013.  This resulted from an error in the computation of diluted shares under the “treasury stock method” as a result of not properly considering non-vested awards in the computation of diluted earnings per share. This error affected the weighted average shares outstanding used in the denominator for diluted net income per share. The Company evaluated the materiality of this error and concluded that it was immaterial. While the adjustments were immaterial, the Company elected to revise its previously reported diluted earnings per share as shown in the following table:

  
Three Months Ended
December 31, 2013
  
Nine Months Ended
December 31, 2013
 
  
As Reported
  
As Revised
  
As Reported
  
As Revised
 
Numerator:
        
Income from continuing operations
 
$
1,148,000
  
$
1,148,000
  
$
3,415,000
  
$
3,415,000
 
Income from discontinued operations
  
-
   
-
   
100,877,000
   
100,877,000
 
Net income
 
$
1,148,000
  
$
1,148,000
  
$
104,292,000
  
$
104,292,000
 
                 
Demonimator:
                
Shares used for basic net income per share
  
14,618,930
   
14,618,930
   
14,513,864
   
14,513,864
 
Effect of potentially dilutive securities
  
643,567
   
810,826
   
306,477
   
431,073
 
Weighted average shares outstanding for diluted net income per share
  
15,262,497
   
15,429,756
   
14,820,341
   
14,944,937
 
Diluted net income per share from continuing operations
 
$
0.08
  
$
0.07
  
$
0.23
  
$
0.23
 
Diluted net income per share from discontinued operations
  
-
   
-
   
6.81
   
6.75
 
Diluted net income per share
 
$
0.08
  
$
0.07
  
$
7.04
  
$
6.98
 

These corrections had no impact on the Company’s consolidated balance sheets, net income, basic net income per share, or the consolidated statements of comprehensive income and consolidated statements of cash flows for any of the above mentioned periods.