Income (Loss) Per Share

3 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Income (Loss) Per Share

8. 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 June 30,
(In thousands, except per share data)	2021			2020
Numerator:
Net income (loss)	$	1,972		$	(517	)
Series A convertible preferred stock issuance costs		—			(937	)
Series A convertible preferred stock dividends		(459	)		(199	)
Net income (loss) attributable to common shareholders	$	1,513		$	(1,653	)
Denominator:
Weighted average shares outstanding - basic		24,014			23,405
Dilutive SSARs		1,115			—
Dilutive unvested restricted shares		49			—
Weighted average shares outstanding - diluted		25,178			23,405
Income (loss) per share - basic:	$	0.06		$	(0.07	)
Income (loss) per share - diluted:	$	0.06		$	(0.07	)
Anti-dilutive stock options, SSARs, restricted shares,    performance shares and preferred shares		4,740			3,560

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 138,736 and 194,587 of

restricted shares at June 30, 2021 and 2020, 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.