3. NET INCOME (LOSS) PER COMMON SHARE

12 Months Ended

Mar. 31, 2020

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,
	2020		2019		2018
	(In thousands, except per share amounts)
Net income (loss)	$	(10,337)	$	163	$	(4,515)
Denominators:
Weighted average shares—Basic		22,968		21,889		21,085
Dilutive effect of employee stock options		—		1,453		—
Dilutive effect of employee stock purchase plan options		—		7		—
Weighted average shares—Dilutive		22,968		23,349		21,085
Net income (loss) per common share—Basic	$	(0.45)	$	0.01	$	(0.21)
Net income (loss) per common share—Diluted	$	(0.45)	$	0.01	$	(0.21)

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,
	2020	2019	2018
	(In thousands)
Shares underlying options and ESPP shares	3,914	2,108	2,790