Three months ended
September 30,

Six months ended
September 30,

2015

2014

2015

2014

Numerator for earnings per share – net income

$

3,256,341

$

4,329,701

$

6,926,802

$

9,238,889

Denominator:

Denominator for basic earnings per share – weighted average shares

7,621,949

12,190,800

7,619,136

12,184,581

Effect of dilutive securities:

Stock options and other share awards

130,312

173,903

128,722

186,254

Denominator for diluted earnings per share

7,752,261

12,364,703

7,747,858

12,370,835

Earnings per share:

Basic

$

0.43

$

0.36

$

0.91

$

0.76

Diluted

$

0.42

$

0.35

$

0.89

$

0.75