2. NET INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Mar. 31, 2015

Net income (loss) per share:

NOTE 2 - NET 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 per share.The following table sets forth the computation of basic and diluted net income (loss) per share:

	Year Ended March 31,
	2015		2014		2013
	(In thousands, except per share amounts)
Net income (loss)	$	(4,978)	$	(6,189)	$	3,846
Denominators:
Weighted average shares—Basic		25,029		27,505		27,124
Dilutive effect of employee stock options		-		-		940
Dilutive effect of employee stock purchase plan options		-		-		13
Weighted average shares—Dilutive		25,029		27,505		28,077
Net income (loss) per common share—Basic	$	(0.20)	$	(0.23)	$	0.14
Net income (loss) per common share—Diluted	$	(0.20)	$	(0.23)	$	0.14

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 common share as they had an anti-dilutive effect:

	Year Ended March 31,
	2015	2014	2013
	(In thousands)
Shares underlying options	3,851	2,911	3,105