Net Income (Loss) Per Common Share

Basic net income (loss) per common share from continuing operations, net of non-controlling interest, is based upon the weighted-average common shares outstanding during the period. Diluted net income (loss) per common share from continuing operations, net of non-controlling interest reflects the potential dilution that would occur if common stock equivalent securities or other contracts to issue common stock were exercised or converted into common stock.

There are no reconciling items which impact the numerator of basic and diluted net income (loss) common share. A reconciliation between the denominator of basic and diluted net income (loss) per common share is as follows:



	Three Months Ended November 30,		Nine Months Ended November 30,
	2018	2017	2018	2017
Weighted-average common shares outstanding (basic)	24,355,791	24,238,493	24,355,791	24,222,973
Effect of dilutive securities:
Restricted stock	273,045	259,651	—	—
Weighted-average common shares and potential common shares outstanding (diluted)	24,628,836	24,498,144	24,355,791	24,222,973

Restricted stock totaling 0, and restricted stock, options and warrants totaling 55,918 for the three months ended November 30, 2018 and 2017, respectively, and 531,375 and 545,102 for the nine months ended November 30, 2018 and 2017, respectively, were not included in the net income (loss) per diluted share calculation because the exercise price of the restricted stock was greater than the average market price of the Company’s common stock during these periods, or the inclusion of these components would have been anti-dilutive.