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Net Income (Loss) Per Share
 3 Months Ended
Jun. 30, 2013
Net Income (Loss) Per Share [Abstract]  
Net Income (Loss) Per Share
9. Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share includes the effect, if any, from the potential exercise or conversion of securities, such as stock options and warrants, which would result in the issuance of incremental shares of common stock.

The following presents a reconciliation of basic and diluted net income (loss) per share.

 
 
Three Months Ended
 
 
 
June 30,
 
 
 
2013
  
2012
 
 
 
  
 
Income from continuing operations
 
$
103,000
  
$
2,367,000
 
Income (loss) from discontinued operations
  
100,877,000
   
(12,229,000
)
 
        
Net income (loss)
 
$
100,980,000
  
$
(9,862,000
)
 
        
Basic shares
  
14,460,979
   
13,924,641
 
Effect of dilutive stock options and warrants
  
86,586
   
88,042
 
Diluted shares
  
14,547,565
   
14,012,683
 
Net income (loss) per share:
        
Basic net income per share from continuing operations
 
$
0.01
  
$
0.17
 
Basic net income (loss) per share from discontinued operations
  
6.97
   
(0.88
)
 
        
Basic net income (loss) per share
 
$
6.98
  
$
(0.71
)
 
        
Diluted net income per share from continuing operations
 
$
0.01
  
$
0.17
 
Diluted net income (loss) per share from discontinued operations
  
6.93
   
(0.87
)
 
        
Diluted net income (loss) per share
 
$
6.94
  
$
(0.70
)

The effect of dilutive options and warrants excludes (i) 1,113,534 shares subject to options and 735,484 shares subject to warrants with exercise prices ranging from $7.27 to $15.06 per share for the three months ended June 30, 2013 and (ii) 1,148,534 shares subject to options and 100,000 shares subject to warrants with exercise prices ranging from $6.75 to $17.00 per share for the three months ended June 30, 2012 — all of which were anti-dilutive.