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Net Income (Loss) Per Share
 6 Months Ended
Sep. 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
  
Six Months Ended
 
 
 
September 30,
  
September 30,
 
 
 
2013
  
2012
  
2013
  
2012
 
 
 
  
  
  
 
Income from continuing operations
 
$
2,164,000
  
$
6,503,000
  
$
2,267,000
  
$
8,870,000
 
Income (loss) from discontinued operations
  
-
   
(15,436,000
)
  
100,877,000
   
(27,665,000
)
 
Net income (loss)
 
$
2,164,000
  
$
(8,933,000
)
 
$
103,144,000
  
$
(18,795,000
)
 
                
Basic shares
  
14,460,979
   
14,456,921
   
14,460,979
   
14,192,235
 
Effect of dilutive stock options and warrants
  
93,478
   
44,231
   
151,309
   
56,480
 
Diluted shares
  
14,554,457
   
14,501,152
   
14,612,288
   
14,248,715
 
Net income (loss) per share:
                
Basic net income per share from continuing operations
 
$
0.15
  
$
0.45
  
$
0.16
  
$
0.63
 
Basic net income (loss) per share from discontinued operations
  
-
   
(1.07
)
  
6.97
   
(1.95
)
 
                
Basic net income (loss) per share
 
$
0.15
  
$
(0.62
)
 
$
7.13
  
$
(1.32
)
 
                
Diluted net income per share from continuing operations
 
$
0.15
  
$
0.45
  
$
0.16
  
$
0.62
 
Diluted net income (loss) per share from discontinued operations
  
-
   
(1.07
)
  
6.90
   
(1.94
)
 
Diluted net income (loss) per share
 
$
0.15
  
$
(0.62
)
 
$
7.06
  
$
(1.32
)

The effect of dilutive options and warrants excludes (i) 755,334 shares subject to options with exercise prices ranging from $9.85 to $15.06 per share for the three months ended September 30, 2013 and (ii) 1,311,534 shares subject to options and 735,484 shares subject to warrants with exercise prices ranging from $4.60 to $15.06 per share for the three months ended September 30, 2012 — all of which were anti-dilutive. The effect of dilutive options and warrants excludes (i) 1,034,534 shares subject to options with exercise prices ranging from $8.70 to $15.06 per share for the six months ended September 30, 2013 and (ii) 1,279,534 shares subject to options and 735,484 shares subject to warrants with exercise prices ranging from $5.83 to $15.06 per share for the six months ended September 30, 2012 — all of which were anti-dilutive.