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Earnings Per Share
 9 Months Ended
Dec. 31, 2011
Earnings Per Share [Abstract]  
3. 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
December 31,		 Nine months ended
December 31,
2011 2010 2011 2010

Numerator for earnings per share – net income

 $ 5,362,721 $ 4,474,820 $ 16,185,618 $ 12,033,002

Denominator:

Denominator for basic earnings per share – weighted average shares

 11,782,715 11,604,037 11,732,557 11,606,223

Effect of dilutive securities:

Stock options and other share awards

 266,848 295,645 282,744 260,762

Denominator for diluted earnings per share

 12,049,563 11,899,682 12,015,301 11,866,985

Earnings per share:

Basic

 $ 0.46 $ 0.39 $ 1.38 $ 1.04

Diluted

 $ 0.45 $ 0.38 $ 1.35 $ 1.01

For the three and nine months ended December 31, 2011 potential common stock from stock options totaling 55,000 were not included in the diluted earnings per share calculation because their effect is anti-dilutive. For the three and nine months ended December 31, 2010 potential common stock from stock options totaling 28,500 and 76,900, respectively, were not included in the diluted earnings per share calculation because their effect is anti-dilutive.