Earnings Per Share

3 Months Ended

Jun. 30, 2024

The following table sets forth the computation of basic and diluted earnings per share (in thousands):


	Three Months Ended
	June 30, 2024		June 30, 2023
Numerator for basic and diluted earnings per share:
Net income (loss)	$	8,629	$	9,275

Denominators:
Weighted-average common stock outstanding – denominator for basic EPS	28,834		28,662
Effect of dilutive employee stock options and other share-based awards	293		244
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS	29,127		28,906

Stock options with respect to 612,000 and 788,000 common shares for the three months ended June 30, 2024 and June 30, 2023, respectively, were not included in the computation of diluted income per share because they were antidilutive. For the three months ended June 30, 2024 and June 30, 2023 contingently issuable common shares of 131,000 and 138,000, respectively, were excluded because a performance condition had not yet been met.

The Company grants share based compensation to eligible participants under the 2016 Long Term Incentive Plan, as Amended and Restated in June 2019 and July 2024 ("2016 LTIP"). The total number of shares of common stock with respect to which awards may be granted under the 2016 LTIP were increased by 2,500,000 as a result of the June 2019 amendment and restatement. In July of fiscal 2025 the plan was amended a second time increasing the total number of shares of common stock which may be granted by an additional 2,800,000 shares.

During the first three months of fiscal 2025, there were 2,000 shares of stock issued upon the exercise of stock options that were issued under the Company’s 2016 LTIP. During the fiscal year ended March 31, 2024, 146,000 shares of restricted stock units vested and were issued.

On July 21, 2024, the Company's Board of Directors declared a dividend of $0.07 per common share. The dividend will be paid on August 19, 2024 to shareholders of record on August 9, 2024. The dividend payment is expected to be approximately $2,020,000.

Refer to the Company’s consolidated financial statements included in the 2024 10-K for further information on its earnings per share and stock plans.