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Income Per Common Share

6 Months Ended

Sep. 30, 2025

Income per common share:

Income Per Common Share

9. Income Per Common Share

The following is a reconciliation of the number of shares used in the calculation of basic and diluted net income per share for the three and six month periods ended September 30, 2025 and 2024.

 Schedule of Reconciliation of Basic and Diluted Net Income (Loss) Per Share

		2025				2024				2025				2024
		Three Months Ended								Six Months Ended
		September 30,								September 30,
		2025				2024				2025				2024
Net income		$	323,506			$	317,198			$	565,457			$	608,237
Shares outstanding:
Weighted avg. shares outstanding – basic			2,046,000				2,073,696				2,046,000				2,082,194
Effect of assumed exercise of dilutive stock options			30,424				44,108				28,866				44,371
Weighted avg. shares outstanding – dilutive			2,076,424				2,117,804				2,074,866				2,126,565
Income per common share:
Basic		$	0.16			$	0.15			$	0.28			$	0.29
Diluted		$	0.16			$	0.15			$	0.27			$	0.29

For the three and six months ended September 30, 2025, 90,206 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $13.09 at September 30, 2025. For the three months ended September 30, 2024, 61,125 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. For the six months ended September 30, 2024, 60,500 shares relating to stock options were excluded from the computation of diluted net income because their inclusion would be anti-dilutive. Anti-dilutive stock options have a weighted average exercise price of $15.34 at September 30, 2024.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-3

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