XML 19 R8.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Earnings Per Share
 3 Months Ended
Jun. 30, 2011
Earnings Per Share [Abstract]  
Earnings Per Share

3. Earnings Per Share

Basic earnings per share is calculated by dividing the reported net income for the period by the weighted average number of shares of common stock outstanding. Diluted earnings per share includes the effect of dilutive options and other share awards. Basic and diluted earnings per share have been computed as follows:

 

     Three months ended
June 30, 		 
     2011      2010  

Numerator for earnings per share – net income

   $ 5,302,793       $ 3,575,838   
  

 

 

    

 

 

 

Denominator:

     

Denominator for basic earnings per share – weighted average shares

     11,651,295         11,555,212   

Effect of dilutive securities:

     

Stock options and other share awards

     314,167         251,317   
  

 

 

    

 

 

 

Denominator for diluted earnings per share

     11,965,462         11,806,529   
  

 

 

    

 

 

 

Earnings per share:

     

Basic

   $ 0.46       $ 0.31   
  

 

 

    

 

 

 

Diluted

   $ 0.44       $ 0.30   
  

 

 

    

 

 

 

For the three months ended June 30, 2011 and 2010 potential common stock from stock options totaling 55,000 and 141,700, respectively, were not included in the diluted earnings per share calculation because their effect is anti-dilutive.