NET INCOME (LOSS) PER SHARE

3 Months Ended

Jun. 30, 2016

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) 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
	June 30,
	2016			2015
Numerator:
Net income (loss)	$	(8,998	)	$	7,669
Denominator:
Denominator for basic net income (loss) per share - weighted average common shares outstanding	93,344			40,776
Dilutive common equivalent shares:
Weighted average stock options	—			—
Weighted average restricted stock units	—			595
Denominator for diluted net income (loss) per share - weighted average shares outstanding	93,344			41,371
Net income (loss) per share:
Basic net income (loss) per share	$	(0.10	)	$	0.19
Diluted net income (loss) per share	$	(0.10	)	$	0.19

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
	June 30,
	2016	2015
Restricted stock units	2,282	19

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 three months ended June 30, 2016, all outstanding restricted stock units have an anti-dilutive effect and are therefore excluded from the computation of diluted weighted average share outstanding.