10 NET INCOME (LOSS) PER SHARE

9 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

NET INCOME (LOSS) PER SHARE

NOTE 10.NET INCOME (LOSS) PER SHARE:

A reconciliation of net income and weighted average shares used in computing basic and diluted net income per share is as follows:

	Nine Months Ended
	December 31,
	2015				2014
	(In thousands, except per share data)
Basic net income (loss) per share:
Net income (loss) applicable to common shares		$	(0.17	)		$	0.03
Weighted average common shares outstanding			11,043				9,992
Basic net income (loss) per share of common stock		$	(0.17	)		$	0.03
Diluted net income (loss) per share:
Net income (loss) applicable to common shares		$	(0.16	)		$	0.03
Weighted average common shares outstanding			11,874				9,992
Dilutive effects of convertible debt, stock options and warrants			-				-
Weighted average common shares, assuming dilutive effect of stock options			11,874				9,992
Diluted net income (loss) per share of common stock		$	(0.16	)		$	0.03

Share-based awards, inclusive of all grants made under the Company's equity plans, for which either the stock option exercise price or the fair value of the restricted share award exceeds the average market price over the period, have an anti-dilutive effect on earnings per share, and accordingly, are excluded from the diluted computations for all periods presented.

As of December 31, 2015, there were approximately 233,189 share-based awards outstanding, respectively, under the Company's equity plans leaving 1,766,811 share-based units available in the 2015 Employee Stock Option Plan.  During the twelve months ended December 31, 2015, we granted 83,189 restricted stock units and 150,000 options.

Due to net loss, potential shares were not included in the calculation of diluted EPS, as it will have an antidilutive effect.