Net Income (Loss) per Common Share

12 Months Ended

Mar. 31, 2017

Basic net income (loss) per common share is computed by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding for the period and does not consider common stock equivalents.

Diluted net income (loss) per common share reflects the dilution that would occur if warrants and stock options were exercised and restricted shares vested. In the computation of diluted net income (loss) per common share, Orion uses the treasury stock method for outstanding options, warrants and restricted shares. Diluted net loss per common share is the same as basic net loss per common share for the years ended March 31, 2017, March 31, 2016 and March 31, 2015 because the effects of potentially dilutive securities would be anti-dilutive. The effect of net income (loss) per common share is calculated based upon the following shares:



	Fiscal Year Ended March 31,
	2017			2016			2015
Numerator:
Net loss (dollars in thousands)	$	(12,288	)	$	(20,126	)	$	(32,061	)
Denominator:
Weighted-average common shares outstanding	28,156,382			27,627,693			22,353,419
Weighted-average common shares and share equivalents outstanding	28,156,382			27,627,693			22,353,419
Net loss per common share:
Basic	$	(0.44	)	$	(0.73	)	$	(1.43	)
Diluted	$	(0.44	)	$	(0.73	)	$	(1.43	)

The following table indicates the number of potentially dilutive securities as of the end of each period:



	March 31,
	2017	2016	2015
Common stock options	1,520,953	2,017,046	2,426,836
Restricted shares	1,704,543	1,053,389	704,688
Total	3,225,496	3,070,435	3,131,524