NET INCOME PER SHARE

9 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

NET INCOME PER SHARE

NET INCOME PER SHARE

Calculations of the basic and diluted net income (loss) per share and potential common shares are as follows (in thousands, except for per share data):

	Three Months Ended					Nine Months Ended
	December 31,					December 31,
	2015			2014		2015			2014
Numerator:
Net income (loss)	$	(24,507	)	$	17,629	$	(24,753	)	$	40,338
Denominator:
Denominator for basic net income per share - weighted average common shares outstanding	98,797			41,206		77,126			41,128
Dilutive common equivalent shares:
Weighted average stock options	—			7		—			11
Weighted average restricted stock units	—			323		—			540
Denominator for diluted net income per share - weighted average shares outstanding	98,797			41,536		77,126			41,679
Net income per share:
Basic net income (loss) per share	$	(0.25	)	$	0.43	$	(0.32	)	$	0.98
Diluted net income (loss) per share	$	(0.25	)	$	0.42	$	(0.32	)	$	0.97

The following table sets forth restricted stock units excluded from the calculation of diluted net income (loss) per share, since their inclusion would be antidilutive (in thousands):

	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2015	2014	2015	2014
Restricted stock units	358	19	503	12

Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, restricted shares and restricted stock units using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of proceeds from the assumed exercise of stock options, unrecognized compensation expense and any tax benefits as additional proceeds.