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2. NET INCOME (LOSS) PER COMMON SHARE
 6 Months Ended
Sep. 30, 2014
Net income (loss) per share:  
NOTE 2 - NET INCOME (LOSS) PER COMMON SHARE

NOTE 2—NET INCOME (LOSS) PER COMMON SHARE

 

The Company uses the treasury stock method to calculate the weighted average shares used in computing diluted net income (loss) per share. The following table sets forth the computation of basic and diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Six Months Ended September 30,

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except per share amounts)

Net income (loss)

   

$
(950)

    

$
386 

    

$
(2,396)

    

$
(55)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominators:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares—Basic

 

 
25,540 

 

 
27,631 

 

 
26,512 

 

 
27,407 

Dilutive effect of employee stock options

 

 

—

 

 
1,331 

 

 

—

 

 

—

Dilutive effect of employee stock purchase plan options

 

 

—

 

 
13 

 

 

—

 

 

—

Weighted average shares—Dilutive

 

 
25,540 

 

 
28,975 

 

 
26,512 

 

 
27,407 

Net income (loss) per common share—Basic

 

$
(0.04)

 

$
0.01 

 

$
(0.09)

 

$

—

Net income (loss) per common share—Diluted

 

$
(0.04)

 

$
0.01 

 

$
(0.09)

 

$

—

 

The following shares of common stock underlying outstanding stock options, determined on a weighted average basis, were excluded from the computation of diluted net income (loss) per share as they had an anti-dilutive effect:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30,

 

Six Months Ended September 30,

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

Shares underlying options

   
3,503 

    
1,558 

    
3,375 

    
2,964