(Loss) Earnings Per Share

9 Months Ended

Dec. 31, 2015

(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						Nine months ended
	December 31,						December 31,
(In thousands, except per share data)	2015			2014			2015			2014
Numerator:
Net loss	$	(1,673	)	$	(2,715	)	$	(2,227	)	(6,071		)

Denominator:
Weighted average shares outstanding	22,493			22,343			22,479			22,336

Loss per share - basic and diluted:
Loss per share	$	(0.07	)	$	(0.12	)	$	(0.10	)	$	(0.27	)

Anti-dilutive stock options, SSARs, restricted shares and performance shares	1,804			1,467			1,633			1,360

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 455,574 and 479,268 of restricted shares at December 31, 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 December 31, 2015 and 2014, basic weighted-average shares outstanding were used in calculating the diluted net loss per share.