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Net (Loss) Income Per Share
 6 Months Ended
Sep. 30, 2015
Net (Loss) Income Per Share [Abstract]  
Net (Loss) Income Per Share
9. Net (Loss) Income Per Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Diluted net (loss) income 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 (loss) income per share:

  
Three Months Ended
September 30,
  
Six Months Ended
September 30,
 
  
2015
  
2014
  
2015
  
2014
 
         
Net (loss) income
 
$
(1,392,000
)
 
$
1,475,000
  
$
518,000
  
$
5,424,000
 
Basic shares
  
18,215,783
   
15,975,437
   
18,109,912
   
15,531,566
 
Effect of potentially dilutive securities
  
-
   
850,990
   
777,241
   
841,160
 
Diluted shares
  
18,215,783
   
16,826,427
   
18,887,153
   
16,372,726
 
Net (loss) income per share:
                
Basic net (loss) income per share
 
$
(0.08
)
 
$
0.09
  
$
0.03
  
$
0.35
 
Diluted net (loss) income per share
 
$
(0.08
)
 
$
0.09
  
$
0.03
  
$
0.33
 

The effect of dilutive options excludes (i) 1,204,619 shares subject to options with exercise prices ranging from $4.17 to $31.13 per share and 516,129 shares subject to warrants with an exercise price of $7.75 per share for the three months ended September 30, 2015 and (ii) 110,122 shares subject to options with exercise prices ranging from $31.10 to $31.13 per share for the six months ended September 30, 2015, which were anti-dilutive. There were no anti-dilutive options or warrants for the three and six months ended September 30, 2014.