NOTE 17. NET INCOME PER SHARE

The computations for basic and diluted net income from continuing and discontinued operations per share are as follows (in thousands, except share and per share data):

	Year Ended March 31,
	2018		2017			2016
Income from continuing operations	$	27,177	$	32,779		$	31,074
Loss from discontinued operations, net of tax		-		(63	)		(3	)
Gain on sale of discontinued operations, net of tax		-		-			559
Net income	$	27,177	$	32,716		$	31,630

Weighted average common shares outstanding:
Basic		22,672,000		22,515,000			22,661,000
Effect of dilutive securities:
Restricted stock units		463,000		282,000			221,000
Warrants		-		-			1,000
Diluted		23,135,000		22,797,000			22,883,000

Net income per share:
Basic
Continuing operations	$	1.20	$	1.46		$	1.37
Discontinued operations		-		(0.01	)		0.03
Basic net income per share	$	1.20	$	1.45		$	1.40

Diluted
Continuing operations	$	1.17	$	1.44		$	1.36
Discontinued operations		-		-			0.02
Diluted net income per share	$	1.17	$	1.44		$	1.38

For our PSUs, if the performance criteria are achieved during the period, these awards will be considered outstanding for the purpose of computing diluted net income per share if the effect is dilutive. The performance criteria for our PSUs related to FY2018 PSUs, FY2017 PSUs and FY2016 PSUs were achieved during the applicable performance period, fiscal 2018, 2017 and 2016, respectively, and accordingly, the dilutive effect of the shares were included in the computation of diluted weighted average shares outstanding.

Warrants are excluded from the computation of diluted weighted average shares outstanding if the exercise price of the warrants is greater than the average market price of our common stock during the period because the inclusion of these warrants would be antidilutive to net income per share. There were no warrants excluded from the computation of diluted weighted average shares outstanding during fiscal 2018, 2017 and 2016.

We excluded the following restricted stock units from the computation of diluted weighted average shares outstanding because the inclusion of these awards would be antidilutive to net income per share.

	Year Ended March 31,
	2018		2017		2016
Weighted average number of shares underlying antidilutive restricted stock units		-		2,000		92,000