Note

Net

(Loss)

Income

Per Share

Basic net (loss) income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the reporting period. Diluted net (loss) income per share is computed similarly to basic net (loss) income per share, except that it includes the potential dilution that could occur if dilutive securities were exercised.

The following table presents a reconciliation of the denominators used in the computation of net (loss) income per share - basic and diluted (in thousands, except share data):

	Year E nded March 31,
	201 8			201 7		201 6
Net (loss) income available for shareholders	$	(2,962	)	$	11,183	$	11,169

Weighted average outstanding shares of common stock		3,770			3,679		3,605
Dilutive effect of stock options		--			165		152
Common stock and equivalents		3,770			3,844		3,757
Net (loss) income per share:
Basic	$	(0.79	)	$	3.04	$	3.10
Diluted		(0.79	)		2.91		2.97

For the years ended

March 31, 2018,

2017

and

2016,

106,000,

110,000

and

137,000

outstanding stock options, respectively, were excluded from the calculation of diluted earnings per share because the exercise prices of the stock options were greater than or equal to the average price of the common shares and, therefore, their inclusion would have been anti-dilutive. Additionally, as a result of generating a net loss for the year ended

March 31, 2018,

352,358

additional outstanding stock options were excluded from the calculation of diluted earnings per share.