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LOSS PER SHARE (Tables)
6 Months Ended
Sep. 30, 2017
Earnings Per Share [Abstract]  
Components of Basic and Diluted Loss Per Share

The components of basic and diluted loss per share are as follows:

 

 

 

Successor

 

 

 

Predecessor

 

 

 

Period from

 

 

 

Period from

 

 

 

 

 

 

 

August 1, 2017

 

 

 

July 1, 2017

 

 

Three Months

 

 

 

through

 

 

 

through

 

 

Ended

 

(In thousands, except share and per share data)

 

September 30, 2017

 

 

 

July 31, 2017

 

 

September 30, 2016

 

Net loss available to common shareholders

 

$

(15,693

)

 

 

 

(1,122,475

)

 

 

(178,490

)

Weighted average outstanding shares of common stock, basic (A)

 

 

19,389,031

 

 

 

 

47,121,407

 

 

 

47,067,864

 

Dilutive effect of options, warrants and restricted stock awards and units

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock and equivalents

 

 

19,389,031

 

 

 

 

47,121,407

 

 

 

47,067,864

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share, basic (B)

 

$

(0.81

)

 

 

 

(23.82

)

 

 

(3.79

)

Loss per share, diluted (C)

 

$

(0.81

)

 

 

 

(23.82

)

 

 

(3.79

)

Additional information:

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive incremental options, warrants, and restricted stock awards and units

 

 

15,513,573

 

 

 

 

 

 

 

525,161

 

 

 

 

 

Successor

 

 

 

Predecessor

 

 

 

Period from

 

 

 

Period from

 

 

 

 

 

 

 

August 1, 2017

 

 

 

April 1, 2017

 

 

Six Months

 

 

 

through

 

 

 

through

 

 

Ended

 

(In thousands, except share and per share data)

 

September 30, 2017

 

 

 

July 31, 2017

 

 

September 30, 2016

 

Net loss available to common shareholders

 

$

(15,693

)

 

 

 

(1,646,909

)

 

 

(267,587

)

Weighted average outstanding shares of common stock, basic (A)

 

 

19,389,031

 

 

 

 

47,121,330

 

 

 

47,067,790

 

Dilutive effect of options, warrants and restricted stock awards and units

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock and equivalents

 

 

19,389,031

 

 

 

 

47,121,330

 

 

 

47,067,790

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss per share, basic (B)

 

$

(0.81

)

 

 

 

(34.95

)

 

 

(5.69

)

Loss per share, diluted (C)

 

$

(0.81

)

 

 

 

(34.95

)

 

 

(5.69

)

Additional information:

 

 

 

 

 

 

 

 

 

 

 

 

 

Antidilutive incremental options, warrants, and restricted stock awards and units

 

 

15,513,573

 

 

 

 

 

 

 

508,989

 

 

 

 

(A)

Basic weighted average shares outstanding includes 410,262 shares issuable upon the exercise of Creditor Warrants held by U.S citizens at September 30, 2017 (Successor).

 

 

(B)

The company calculates “Loss per share, basic” by dividing “Net loss available to common shareholders” by “Weighted average outstanding shares of common stock, basic”.

 

 

(C)

The company calculates “Loss per share, diluted” by dividing “Net loss available to common shareholders” by “Weighted average shares of common stock and equivalents”.

 

The company’s common stock and antidilutive options and restricted stock awards and units were cancelled on
July 31, 2017 in connection with emergence from bankruptcy.