Loss Per Common Share

9 Months Ended

Dec. 31, 2013

Loss Per Common Share [Abstract]

Loss Per Common Share

(12) Loss Per Common Share

Basic earnings per share is computed by dividing income or loss available to common stockholders by the weighted average number of common shares outstanding during the periods presented.  Diluted earnings per share is computed by dividing income or loss available to common stockholders by all outstanding and potentially dilutive shares during the periods presented, unless the effect is antidilutive.  At December 31, 2013 and 2012, respectively, common shares issued under the Stock Bonus Plan but not yet earned totaling 640,979 and 358,855 were being held by the Company.  For the quarters and nine month periods ended December 31, 2013 and 2012 respectively, 213,943 and 34,793, and 92,779 and26,519 shares, were potentially includable in the calculation of diluted loss per share under the treasury stock method but were not included, because to do so would be antidilutive.  At December 31, 2013 and 2012, options to purchase 3,605,526 and 4,496,168 shares of common stock, respectively, were outstanding.  For the quarters and nine month periods ended December 31, 2013 and 2012, respectively, options for 2,125,169 and 3,091,144 and 2,125,169 and 3,066,144 shares were not included in the computation of diluted loss per share because the option exercise price was greater than the average market price of the common stock.  In-the-money options determined under the treasury stock method to acquire 768,662 and 198,847, and 497,477 and 144,379shares of common stock for the quarters and nine month periods ended December 31, 2013 and 2012, respectively, were potentially includable in the calculation of diluted loss per share but were not, because to do so would be antidilutive.