2. NET INCOME (LOSS) PER COMMON SHARE

6 Months Ended

Sep. 30, 2016

NET INCOME (LOSS) PER COMMON 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,
	2016		2015		2016		2015
	(In thousands, except per share amounts)
Net income (loss)	$	626	$	(347)	$	886	$	(1,264)
Denominators:
Weighted average shares—Basic		20,529		22,676		20,912		22,809
Dilutive effect of employee stock options		550		—		412		—
Dilutive effect of employee stock purchase plan options		25		—		25		—
Weighted average shares—Dilutive		21,104		22,676		21,349		22,809
Net income (loss) per common share—Basic	$	0.03	$	(0.02)	$	0.04	$	(0.06)
Net income (loss) per common share—Diluted	$	0.03	$	(0.02)	$	0.04	$	(0.06)

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,
	2016	2015	2016	2015
	(In thousands)
Shares underlying options	5,401	5,317	5,734	5,067