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Income (Loss) Per Share
 9 Months Ended
Dec. 31, 2020
Earnings Per Share [Abstract]  
Income (Loss) Per Share

9. Income (Loss) per Share

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

 

 

Three Months Ended

December 31,

 

 

Nine Months Ended

December 31,

 

(In thousands, except per share data)

2020

 

 

2019

 

 

2020

 

 

2019

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

(2,070

)

 

$

(2,582

)

 

$

3,280

 

 

$

(7,075

)

Series A convertible preferred stock issuance costs

 

—

 

 

 

—

 

 

 

(1,031

)

 

 

—

 

Series A convertible preferred stock dividends

 

(459

)

 

 

—

 

 

 

(1,117

)

 

 

—

 

Net income (loss) attributable to common shareholders

$

(2,529

)

 

$

(2,582

)

 

$

1,132

 

 

$

(7,075

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding - basic

 

23,429

 

 

 

23,240

 

 

 

23,419

 

 

 

23,230

 

Dilutive SSARs

 

—

 

 

 

—

 

 

 

377

 

 

 

—

 

Dilutive unvested restricted shares

 

—

 

 

 

—

 

 

 

107

 

 

 

—

 

Weighted average shares outstanding - diluted

 

23,429

 

 

 

23,240

 

 

 

23,903

 

 

 

23,230

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) per share - basic:

$

(0.11

)

 

$

(0.11

)

 

$

0.05

 

 

$

(0.30

)

Income (loss) per share - diluted:

$

(0.11

)

 

$

(0.11

)

 

$

0.05

 

 

$

(0.30

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive stock options, SSARs, restricted shares,

   performance shares and preferred shares

 

3,389

 

 

 

1,469

 

 

 

2,692

 

 

 

1,414

 

 

Basic income (loss) per share is computed as net income (loss) attributable to common shareholders divided by the weighted average basic shares outstanding. The outstanding shares used to calculate the weighted average basic shares excludes 204,009 and 416,960 of restricted shares at December 31, 2020 and 2019, respectively, as these shares were issued but were not vested and therefore, not considered outstanding for purposes of computing basic income (loss) per share at the balance sheet dates.

Diluted income (loss) per share includes the effect of all potentially dilutive securities on earnings per share. We have stock-settled appreciation rights ("SSARs"), unvested restricted shares, and preferred 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 grants because doing so would be anti-dilutive.