Three months ended
September 30,

Six months ended
September 30,

2012

2011

2012

2011

Numerator for earnings per share – net income

$

5,161,950

$

5,520,104

$

10,535,475

$

10,822,897

Denominator:

Denominator for basic earnings per share – weighted average shares

11,963,596

11,772,819

11,956,362

11,709,875

Effect of dilutive securities:
Stock options and other share awards

218,469

254,642

232,939

291,914

Denominator for diluted earnings per share

12,182,065

12,027,461

12,189,301

12,001,789

Earnings per share:

Basic

$

0.43

$

0.47

$

0.88

$

0.92

Diluted

$

0.42

$

0.46

$

0.86

$

0.90