EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY

6 Months Ended

Sep. 30, 2018

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY:

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS' EQUITY:

EARNINGS (LOSS) PER SHARE AND STOCKHOLDERS’ EQUITY:

Earnings (Loss) Per Share

A reconciliation of the numerator and denominator of basic and diluted earnings (loss) per share is shown below (in thousands, except per share amounts): 

	For the three months ended				For the six months ended
	September 30,				September 30,
	2018		2017		2018		2017
Basic earnings (loss) per share:
Net loss from continuing operations	$	(41,180)	$	(26,001)	$	(68,998)	$	(53,080)
Earnings from discontinued operations, net of tax	61,803		22,665		86,606		48,444
Net earnings (loss)	$	20,623	$	(3,336)	$	17,608	$	(4,636)
Basic weighted-average shares outstanding	77,448		79,235		77,192		78,954
Continuing operations	$	(0.53)	$	(0.33)	$	(0.89)	$	(0.67)
Discontinued operations	0.80		0.29		1.12		0.61
Basic earnings (loss) per share	$	0.27	$	(0.04)	$	0.23	$	(0.06)
Diluted earnings (loss) per share:
Basic weighted-average shares outstanding	77,448		79,235		77,192		78,954
Dilutive effect of common stock options, warrants, and restricted stock as computed under the treasury stock method	—		—		—		—
Diluted weighted-average shares outstanding	77,448		79,235		77,192		78,954
Continuing operations	$	(0.53)	$	(0.33)	$	(0.89)	$	(0.67)
Discontinued operations	0.80		0.29		1.12		0.61
Diluted earnings (loss) per share	$	0.27	$	(0.04)	$	0.23	$	(0.06)

Due to the net loss from continuing operations during the three and six months ended September 30, 2018 and 2017, respectively, the dilutive effect of options, warrants and restricted stock units covering 3.6 million and 2.5 million shares of common stock, respectively, was excluded from the diluted loss per share calculation since the impact on the calculation was anti-dilutive.

Additional options, warrants to purchase shares of common stock, and restricted stock units that were outstanding during the periods presented but were not included in the computation of diluted loss per share because the effect was anti-dilutive are shown below (shares in thousands): 

	For the three months ended		For the six months ended
	September 30,		September 30,
	2018	2017	2018	2017
Number of shares outstanding under options, warrants and restricted stock units plans	29	1,308	69	324
Range of exercise prices for options	N/A	$32.85	N/A	$32.85

Stockholders’ Equity

On August 29, 2011, the board of directors adopted a common stock repurchase program.  That program was subsequently modified and expanded, most recently on October 25, 2018.  On that date, the board of directors authorized a $500 million increase to the existing common stock repurchase program. Under the modified common

stock repurchase program, the Company may purchase up to $1 billion of its common stock through the period ending December 31, 2020.

During the six months ended September 30, 2018, the Company repurchased 1.9 million shares of its common stock for $45.8 million.  Through September 30, 2018, the Company had repurchased a total of 22.0 million shares of its stock for $420.4 million, leaving remaining capacity of $579.6 million under the stock repurchase program.

On October 25, 2018, the board of directors authorized a Dutch auction tender offer (the "Offer") to purchase shares of its outstanding common stock at an initial aggregate purchase price not to exceed $500 million, plus up to 2% of the Company's outstanding shares of common stock in accordance with the rules and regulations of the SEC. The full details of the terms and conditions of the Offer will be set forth at a later date in an Offer to Purchase and a Letter of Transmittal upon approval of the Executive Committee of the board of directors. 

Accumulated Other Comprehensive Income

Accumulated other comprehensive income accumulated balances of $10.2 million and $10.8 million at September 30, 2018 and March 31, 2018, respectively, reflect accumulated foreign currency translation adjustments.