Three months ended
December 31,

Nine months ended
December 31,

2013

2012

2013

2012

Numerator for earnings per share – net income

$

3,826,768

$

4,596,056

$

13,843,813

$

15,153,650

Denominator:

Denominator for basic earnings per share – weighted average shares

12,108,988

11,981,627

12,088,835

11,961,886

Effect of dilutive securities:

Stock options and other share awards

225,191

211,831

197,136

229,895

Denominator for diluted earnings per share

12,334,179

12,193,458

12,285,971

12,191,781

Earnings per share:

Basic

$

0.32

$

0.38

$

1.15

$

1.27

Diluted

$

0.31

$

0.38

$

1.13

$

1.24