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3. NET INCOME (LOSS) PER COMMON SHARE | 12 Months Ended
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Mar. 31, 2021
NET INCOME (LOSS) PER COMMON SHARE |
NOTE 3 - NET INCOME (LOSS) PER COMMON SHARE | NOTE 3—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:
|  | Year Ended March 31, |
|  | 2021 |  | 2020 |  | 2019 |
|  | (In thousands, except per share amounts) |
Net income (loss) |  | $ | (21,505) |  | $ | (10,337) |  | $ | 163 |
Denominators: |  |  |  |  |  |  |  |  |  |
Weighted average shares—Basic |  |  | 23,671 |  |  | 22,968 |  |  | 21,889 |
Dilutive effect of employee stock options |  |  | — |  |  | — |  |  | 1,453 |
Dilutive effect of employee stock purchase plan options |  |  | — |  |  | — |  |  | 7 |
Weighted average shares—Dilutive |  |  | 23,671 |  |  | 22,968 |  |  | 23,349 |
Net income (loss) per common share—Basic |  | $ | (0.91) |  | $ | (0.45) |  | $ | 0.01 |
Net income (loss) per common share—Diluted |  | $ | (0.91) |  | $ | (0.45) |  | $ | 0.01 |
The following shares of common stock (determined on a weighted average basis) were excluded from the computation of diluted net income (loss) per common share as they had an anti-dilutive effect:
|  | Year Ended March 31, |
|  | 2021 |  | 2020 |  | 2019 |
|  | (In thousands) |
Shares underlying options and ESPP shares |  | 4,607 |  | 3,914 |  | 2,108 |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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