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NET INCOME PER SHARE - Note 5
 9 Months Ended
Dec. 31, 2014
Notes to Financial Statements  
NET INCOME PER SHARE - Note 5

5. NET INCOME PER SHARE

 

Basic net income per share is computed by dividing net income available to common stockholders (numerator) by the weighted average number of vested, unrestricted common shares outstanding during the period (denominator). Diluted net income per share is computed on the basis of the weighted average number of shares of common stock outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include shares issuable upon exercise of outstanding stock options and under the ESPP.

      Three Months Ended     Nine Months Ended
      December 31,     December 31,
      2014     2013     2014     2013
      (in thousands, except per share amounts)
Numerator:                        
Income from continuing operations   $ 444    $ 89    $ 1,743    $ 3,569 
Income from discontinued operations, net of income tax provision     -      -      -      890 
Net income available to common stockholders     444      89      1,743      4,459 
                         
Denominator:                        
Common shares     89,594      79,742      89,107      75,071 
                         
Denominator for basic calculation     89,594      79,742      89,107      75,071 
Employee stock options      1,963      2,982      2,210      2,938 
Stock awards     417      458      435      380 
Denominator for diluted calculation      91,974      83,182      91,752      78,389 
                         
Income per share - continuing operations                        
     Basic   $ 0.01    $ 0.00    $ 0.02    $ 0.05 
     Diluted   $ 0.01    $ 0.00    $ 0.02    $ 0.05 
Income per share - discontinued operations                        
     Basic   $ 0.00    $ 0.00    $ 0.00    $ 0.01 
     Diluted   $ 0.00    $ 0.00    $ 0.00    $ 0.01 
Net income per share                        
     Basic    $ 0.01    $ 0.00    $ 0.02    $ 0.06 
     Diluted    $ 0.01    $ 0.00    $ 0.02    $ 0.06 

 

The following shares attributable to outstanding stock options and stock purchase rights were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive (in thousands):

      Three Months Ended     Nine Months Ended
      December 31,     December 31,
      2014     2013     2014     2013
Employee stock options     2,106      1,266      1,634      550 
Stock purchase rights     370      18      59      190 
Total anti-dilutive employee stock-based securities     2,476      1,284      1,693      740