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Note 12 - Earnings (Loss) Per Share

12 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note

12

.

Earnings (Loss)

Per Share

Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings (loss) per share (“diluted EPS”) is computed similarly to basic earnings (loss) per share, except that it includes the potential dilution that could occur if dilutive securities were exercised. Potentially dilutive securities include common shares related to stock options and RSUs (collectively “stock awards”). Stock awards are excluded from the calculation of diluted EPS in the event that they are subject to performance conditions that have

not

yet been achieved or are antidilutive. Diluted EPS considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an antidilutive effect. There was

no

dilution in our diluted EPS calculation for the year ended

March 31, 2018

because we incurred a net loss and the effect would have been antidilutive.

The impact of the assumed conversion of the Notes calculated under the if-converted method was anti-dilutive, and as such shares underlying the Notes were excluded from the diluted EPS calculation for the year ended

March 31, 2020. 

The following table presents a reconciliation of the denominators used in the computation of basic and diluted earnings (loss) per share (shares in thousands):

		Year Ended March 31,
		2020				2019				2018
Net income (loss) available for shareholders		$	1,349			$	7,484				(2,962	)
Weighted average outstanding shares of common stock			4,200				3,839				3,770
Dilutive effect of stock options			159				186				--
Dilutive effect of non-vested shares			12				8				--
Fully diluted shares			4,371				4,033				3,770
Basic		$	0.32			$	1.95			$	(0.79	)
Diluted		$	0.31			$	1.86			$	(0.79	)

 The following stock awards were excluded from the calculation of diluted EPS:

		Year Ended March 31,
		2020				2019				2018
Assumed conversion of convertible debt			387				--				--
Stock awards that were anti-dilutive			24				1				106
Stock awards subject to performance conditions			18				10				--
Total stock awards excluded from diluted EPS			429				11				106

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-URI http://asc.fasb.org/topic&trid=2144383

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3630-109257

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