(Loss) Earnings Per Share

6 Months Ended

Sep. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

(Loss) Earnings per Share

The following data shows the amounts used in computing (loss) earnings per share and the effect on income and the weighted average number of shares of dilutive potential common shares.

	Three months ended						Six months ended
	September 30,						September 30,
(In thousands, except per share data)	2015			2014			2015			2014
Numerator:
Net loss	$	(370	)	$	(1,127	)	$	(554	)	(3,356		)
Denominator:
Weighted average shares outstanding	22,476			22,340			22,472			22,332
Loss per share - basic and diluted:
Loss per share	$	(0.02	)	$	(0.05	)	$	(0.02	)	$	(0.15	)
Anti-dilutive stock options, SSARs, restricted shares and performance shares	1,725			1,467			1,547			1,316

Basic (loss) earnings per share is computed as net income available to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 450,618 and 470,956 of restricted shares at September 30, 2015 and 2014, respectively, as these shares were issued but were not vested and, therefore, not considered outstanding for purposes of computing basic earnings per share at the balance sheet dates.

Diluted (loss) earnings per share includes the effect of all potentially dilutive securities on earnings per share. We have stock options, stock-settled appreciation rights (SSARs) and unvested restricted shares that are potentially dilutive securities. When a loss is reported, the denominator of diluted earnings per share cannot be adjusted for the dilutive impact of share-based compensation awards because doing so would be anti-dilutive. Therefore, for the three months and six months ended September 30, 2015 and 2014, basic weighted-average shares outstanding were used in calculating the diluted net loss per share.