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Computation of Net Loss per Common Share
 6 Months Ended
Sep. 30, 2015
Earnings Per Share [Abstract]  
Computation of Net Loss per Common Share

3. Computation of Net Loss per Common Share

Basic net loss per share (“EPS”) is computed by dividing net loss by the weighted-average number of common shares outstanding for the period. Where applicable, diluted EPS is computed by dividing the net loss by the weighted-average number of common shares and dilutive common equivalent shares outstanding during the period, calculated using the treasury stock method. Common equivalent shares include the effect of restricted stock, exercise of stock options and warrants and contingently issuable shares. For the each of the three and six months ended September 30, 2015, 1.6 million shares were not included in the calculation of diluted EPS as they were considered anti-dilutive, of which 0.4 million relate to unexercised stock options, and 1.2 million relate to outstanding warrants. For each of the three and six months ended September 30, 2014, 0.7 million shares were not included in the calculation of diluted EPS as they were considered anti-dilutive, of which 0.4 million relate to unvested stock options, and 0.3 million relate to outstanding warrants.

The following table reconciles the numerators and denominators of the earnings per share calculation for the three and six months ended September 30, 2015 and 2014 (in thousands, except per share data):

 

 

 

Three months ended September 30,

 

 

Six months ended September 30,

 

 

 

2015

 

 

2014

 

 

2015

 

 

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     Net loss

$

 

(7,698

)

$

 

(25,423

)

 

$

(16,819

)

 

$

(38,939

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares of common stock outstanding

 

 

14,054

 

 

 

8,305

 

 

 

12,958

 

 

 

8,088

 

Weighted-average shares subject to repurchase

 

 

(459

)

 

 

(158

)

 

 

(150

)

 

 

(129

)

Shares used in per-share calculation ― basic

 

 

13,595

 

 

 

8,147

 

 

 

12,808

 

 

 

7,959

 

Shares used in per-share calculation ― diluted

 

 

13,595

 

 

 

8,147

 

 

 

12,808

 

 

 

7,959

 

Net loss per share ― basic

$

 

(0.57

)

$

 

(3.12

)

 

$

(1.31

)

 

$

(4.89

)

Net loss per share ― diluted

$

 

(0.57

)

$

 

(3.12

)

 

$

(1.31

)

 

$

(4.89

)