The following table sets forth the computation of basic and diluted earnings per share (in thousands):

		Three months ended				Nine months ended
		December 31, 2011		December 31, 2010		December 31, 2011		December 31, 2010
Numerator for basic and diluted earnings per share:
Net income (loss)	$	8,515	$	(39,639)	$	17,970	$	(38,493)

Denominators:
Weighted-average common stock outstanding – denominator for basic EPS		19,313		19,082		19,256		19,050
Effect of dilutive employee stock options and other share-based awards		175		-		270		-
Adjusted weighted-average common stock outstanding and assumed conversions – denominator for diluted EPS		19,488		19,082		19,526		19,050

On July 26, 2010, the shareholders of the Company approved the 2010 Long Term Incentive Plan (“LTIP”). The Company grants share based compensation to eligible participants under the LTIP. The total number of shares of common stock with respect to which awards may be granted under the plan is 1,250,000 including shares not previously authorized for issuance under any of the Prior Stock Plans and any shares not issued or subject to outstanding awards under the Prior Stock Plans.

During the first nine months of fiscal 2012 and 2011, a total of 165,544 and 4,125 shares of stock were issued upon the exercising of stock options related to the Company's stock option plans. During the nine months ended December 31, 2011 and 2010, 57,081 and 0 shares, respectively, of restricted stock vested and were issued. During the fiscal year ended March 31, 2011, 25,873 shares of restricted stock vested and were issued.

Refer to the Company's consolidated financial statements included in its Form 10-K for the year ended March 31, 2011 for further information on its earnings per share and stock plans.