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Net (Loss) Income Per Share | 6 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net (Loss) Income Per Share | Net (Loss) Income Per Share In accordance with the provisions of ASC Topic 260 (“Earnings Per Share”) basic net income per share is computed by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income per common share includes the dilutive effect of potential restricted and performance stock and the effects of the potential conversion of preferred shares, calculated using the treasury stock method. Unvested restricted stock and convertible preferred shares issued by the Company represent the only dilutive effect reflected in the diluted weighted average shares outstanding. The following is a reconciliation of the numerators and denominators of the basic and diluted net (loss) income per share computations for the periods presented (in thousands, except for share and per share amounts):
| Three Months Ended September 30, |  | Six Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net (loss) income (numerator): |  |  |  |  |  |  |
Net (loss) income | $ | (70) |  |  | $ | 2,579 |  |  | $ | (957) |  |  | $ | 5,354 |
Shares (denominator): |  |  |  |  |  |  |
Weighted average number of common shares outstanding used in basic computation | 20,382,979 |  |  | 20,261,114 |  |  | 20,357,752 |  |  | 20,234,904 |
Common shares issuable upon vesting of restricted stock | – |  |  | 72,741 |  |  | – |  |  | 72,493 |
Common shares issuable upon conversion of preferred shares | – |  |  | 10,125 |  |  | – |  |  | 10,125 |
Shares used in diluted computation | 20,382,979 |  |  | 20,343,980 |  |  | 20,357,752 |  |  | 20,317,522 |
Net (loss) income per common share: |  |  |  |  |  |  |
Basic | $ | (0.00) |  |  | $ | 0.13 |  |  | $ | (0.05) |  |  | $ | 0.26 |
Diluted | $ | (0.00) |  |  | $ | 0.13 |  |  | $ | (0.05) |  |  | $ | 0.26 |
For the quarter ended September 30, 2023 and 2022, 387,357 and 261,228 shares issuable upon vesting of restricted stock and 10,125 and zero shares issuable upon conversion of preferred shares, respectively, were excluded from the computation of diluted net (loss) income per common share, as their inclusion would have had an anti-dilutive effect on diluted net (loss) income per common share. For the six months ended September 30, 2023 and 2022, 402,872 and 261,228 shares issuable upon vesting of restricted stock and 10,125 and zero shares issuable upon conversion of preferred shares, respectively, were excluded from the computation of diluted net (loss) income per common share, as their inclusion would have had an anti-dilutive effect on diluted net (loss) income per common share.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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