Note

Net

(Loss)

Income Per

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 compu

tation of net (loss) income per share - basic and diluted (in thousands, except per share data):

	Three M onths E nded December 3 1 ,					Nine M onths E nded December 3 1 ,
	201 7			201 6		201 7			201 6
Net (loss) income available for shareholders	$	(11,086	)	$	3,252	$	(7,216	)	$	7,540
Weighted average outstanding shares of common stock		3,781			3,688		3,765			3,668
Dilutive effect of stock options		--			180		--			167
Common stock and equivalents		3,781			3,868		3,765			3,835

Net (loss) income per share:
Basic	$	(2.93	)	$	0.88	$	(1.92	)	$	2.06
Diluted		(2.93	)		0.84		(1.92	)		1.97

For

both the

three

and

nine

months ended

December 31, 2017,

501,000

outstanding stock options were excluded from the calculation of diluted net (loss) income per share because their inclusion would have been anti-dilutive.

For the

three

and

nine

months ended

December 31, 2016,

3,000

and

110,000

outstanding stock options, respectively, were excluded from the calculation of diluted net (loss) income per share because their inclusion would have been anti-dilutive.