NET INCOME (LOSS) PER SHARE

12 Months Ended

Mar. 31, 2016

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):



	Year Ended March 31,
	2016			2015		2014
Numerator:
Net income (loss)	$	(28,369	)	$	61,192	$	49,106
Denominator:
Denominator for basic net income (loss) per share - weighted average common shares outstanding	81,927			41,105		41,366
Dilutive common equivalent shares:
Weighted average stock options	—			9		54
Weighted average restricted stock units	—			523		535
Denominator for diluted net income (loss) per share - weighted average shares outstanding	81,927			41,637		41,955
Net income (loss) per share:
Basic net income (loss) per share	$	(0.35	)	$	1.49	$	1.19
Diluted net income (loss) per share	$	(0.35	)	$	1.47	$	1.17

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



	Year Ended March 31,
	2016	2015	2014
Restricted stock units	453	14	—

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. As we incurred a net loss in the year ended March 31, 2016, all outstanding restricted stock units have an anti-dilutive effect and are therefore excluded from the computation of diluted weighted average share outstanding.