(Loss) Earnings Per Share

12 Months Ended

Mar. 31, 2012

(Loss) Earnings Per Share [Abstract]

(LOSS) EARNINGS PER SHARE

13.

(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.

	Year ended March 31,
(In thousands except per share data)	2012			2011			2010
Numerator:
Loss from continuing operations — basic and diluted	$	(34,239	)	$	(22,975	)	$	(7,630	)
Income (loss) from discontinued operations — basic and diluted		11,456			(32,500	)		11,177
Net (loss) income — basic and diluted	$	(22,783	)	$	(55,475	)	$	3,547
Denominator:
Weighted average shares outstanding — basic and diluted		22,432			22,785			22,627
(Loss) earnings per share — basic and diluted:
Loss from continuing operations	$	(1.53	)	$	(1.01	)	$	(0.34	)
Income (loss) from discontinued operations		0.51		$	(1.43	)		0.49
Net (loss) income	$	(1.02	)	$	(2.44	)	$	0.15

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 49,000, 85,000, and 187,000 of restricted shares and performance shares (including reinvested dividends) at March 31, 2012, 2011, and 2010, 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. 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. In addition, when a loss from continuing operations is reported, adjusting the denominator of diluted earnings per share would also be anti-dilutive to the loss per share, even if the entity has net income after adjusting for a discontinued operation. Therefore, for the fiscal years ended March 31, 2012, 2011 and 2010, basic weighted-average shares outstanding were used in calculating the diluted net income (loss) per share.