STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

6 Months Ended

Sep. 30, 2013

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

STOCKHOLDERS' EQUITY AND EARNINGS PER SHARE

5. STOCKHOLDERS’ EQUITY AND EARNINGS PER SHARE

Basic loss per share is computed using the net loss and the weighted average number of common shares outstanding during the period. Diluted loss per share is computed using the net loss and the weighted average number of common shares and potential common shares outstanding during the period when the potential common shares are dilutive. Potential dilutive common shares consist of outstanding stock options.

Weighted outstanding options to purchase 3,793,782 shares and 3,951,538 shares of the Company’s common stock for the three and six month periods ended September 30, 2013, respectively, and 3,277,796 shares and 3,250,295 shares for the three and six month periods ended September 30, 2012, respectively, have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

The change in accumulated other comprehensive income during the three and six month periods ended September 30, 2013 and 2012 is the result of the effect of foreign exchange rate changes.