XML 77 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Earnings Per Share
 9 Months Ended
Dec. 31, 2013
Notes  
Earnings Per Share

4.     EARNINGS PER SHARE

 

Basic earnings per share (“EPS”) is computed by dividing net income applicable to common stock by the weighted average number of common shares outstanding during the period, without considering any dilutive items.

 

Diluted EPS is computed by dividing net income applicable to common stock by the weighted average number of common shares and common stock equivalents for items that are dilutive, net of shares assumed to be repurchased using the treasury stock method at the average share price for the Company’s common stock during the period. Common stock equivalents arise from assumed conversion of outstanding stock options. Shares owned by the Company’s Employee Stock Ownership Plan (“ESOP”) that have not been allocated are not considered to be outstanding for the purpose of computing earnings per share.

  For the three and nine months ended December 31, 2013, stock options for 460,000 and 432,000 shares, respectively, of common stock were excluded in computing diluted EPS because they were antidilutive. For the three and nine months ended December 31, 2012, stock options for 420,000 and 423,000 shares, respectively, of common stock were excluded in computing diluted EPS because they were antidilutive.

 

 

 

Three Months Ended December 31,

 

 

Nine Months Ended

December 31,

 

 

 

2013

 

 

2012

 

 

2013

 

 

2012

 

Basic EPS computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator-net income

$

801,000

 

$

1,031,000

 

$

2,782,000

 

$

1,038,000

 

Denominator-weighted average common shares outstanding

 

22,370,277

 

 

22,345,644

 

 

22,364,142

 

 

22,339,509

 

Basic EPS

$

0.04

 

$

0.05

 

$

0.12

 

$

0.05

 

Diluted EPS computation:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator-net income

$

801,000

 

$

1,031,000

 

$

2,782,000

 

$

1,038,000

 

Denominator-weighted average common shares outstanding

 

22,370,277

 

 

22,345,644

 

 

22,364,142

 

 

22,339,509

 

Effect of dilutive stock options

 

1,637

 

 

-

 

 

1,082

 

 

-

 

Weighted average common shares and common stock equivalents

 

22,371,914

 

 

22,345,644

 

 

22,365,224

 

 

22,339,509

 

Diluted EPS

$

0.04

 

$

0.05

 

$

0.12

 

$

0.05