Note 12 - Earnings (Loss) Per Share

12 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

12. EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings per share is computed on the basis of the weighted average number of common shares outstanding plus the potentially dilutive effect of outstanding stock options using the treasury stock method.

Reconciliations between the numerator and the denominator of the basic and diluted income (loss) per share computations for the years ended

March 

31,

2020,

2019

and

2018

are as follows: 

	Net Income (loss) (Numerator)			Shares (Denominator)		Per Share Amount
	(in thousands, except per share amounts)
Year ended March 31, 2020:
Basic income per share	$	387			5,956	$	0.06
Effective dilutive securities—Common stock options		—			5		—
Diluted income per share	$	387			5,961	$	0.06
Year ended March 31, 2019:
Basic and diluted loss per share	$	(3,596	)		5,819	$	(0.62	)
Year ended March 31, 2018:
Basic income per share	$	1,025			5,709	$	0.18
Effective dilutive securities—Common stock options		—			72		—
Diluted income per share	$	1,025			5,781	$	0.18

Basic and diluted per share amounts are the same in periods of a net loss, because common share equivalents are anti-dilutive when a net loss is recorded. Diluted earnings per share does

not

include the impact of common stock options totaling

50,000

for the fiscal years ending

March 31, 2019,

as the effect of their inclusion would be anti-dilutive. Restricted stock units become dilutive within the period granted and remain dilutive until the units vest and are issued as common stock. Diluted earnings per share does

not

include the impact of restricted stock units totaling

12,766,

38,814

and

39,675

 for the fiscal years ending

March 31, 2020,

2019

and

2018,

 respectively, as the effect of their inclusion would be anti-dilutive.