(Loss) Income Per Share

9 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

(Loss) Income Per Share

(LOSS) INCOME PER SHARE

Basic per share amounts were computed using the weighted average number of common shares outstanding. Diluted per share amounts were calculated using the number of basic weighted average shares outstanding increased by dilutive potential common shares related to stock-based awards, as determined by the treasury stock method. Basic income per share amounts were computed using the weighted average number of common shares outstanding. Diluted income per share amounts were calculated using the number of basic weighted average shares outstanding increased by dilutive potential common shares related to stock-based awards, as determined by the treasury stock method.

The weighted average numbers of shares outstanding used to compute (loss) income per share were as follows (in thousands):

	Three-Months Ended December 31,		Nine-Months Ended December 31,
	2021	2020	2021	2020
Shares used to calculate basic income per share	31,199	30,284	30,955	30,077
Dilutive effect of outstanding stock options, performance stock units and restricted stock units	—	2,349	—	2,259
Shares used to calculate diluted income per share	31,199	32,633	30,955	32,336

The weighted average numbers of shares outstanding listed in the table below were anti-dilutive and excluded from the computation of diluted per share due to loss from continuing operations, as such, the exercise or conversion of any potential shares would increase the number of shares in the denominator and result in a lower loss per share (in thousands):

	Three-Months Ended December 31,		Nine-Months Ended December 31,
	2021	2020	2021	2020
Restricted stock units	673	—	1,024	—
Stock options	357	—	504	—

The weighted average numbers of shares outstanding listed in the table below were anti-dilutive and excluded from the computation of diluted income per share. In the case of restricted stock units, this is because unrecognized compensation expense exceeds the current value of the awards (i.e., grant date market value was higher than current average market price). In the case of stock options, this is because the average market price did not exceed the exercise price.

These shares may be anti-dilutive potential common shares in the future (in thousands):

	Three-Months Ended December 31,		Nine-Months Ended December 31,
	2021	2020	2021	2020
Restricted stock units	1,168	31	333	15
Stock options	2	—	2	3