NET INCOME PER SHARE

12 Months Ended

Mar. 31, 2017

NET INCOME PER SHARE [Abstract]

NET INCOME PER SHARE

NOTE 18. 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,
	2017			2016			2015
Income from continuing operations	$	32,779		$	31,074		$	20,803
Loss from discontinued operations, net of tax		(63	)		(3	)		(1,154	)
Gain on sale of discontinued operations, net of tax		—			559			7,682
Net income	$	32,716		$	31,630		$	27,331
Weighted average common shares outstanding:
Basic		22,515,000			22,661,000			22,497,000
Effect of dilutive securities:
Stock options		—			—			1,000
Restricted stock units		282,000			221,000			276,000
Warrants		—			1,000			13,000
Diluted		22,797,000			22,883,000			22,787,000
Net income per share:
Basic
Continuing operations	$	1.46		$	1.37		$	0.92
Discontinued operations		(0.01	)		0.03			0.29
Basic net income per share	$	1.45		$	1.40		$	1.21
Diluted
Continuing operations	$	1.44		$	1.36		$	0.91
Discontinued operations		—			0.02			0.29
Diluted net income per share	$	1.44		$	1.38		$	1.20

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 FY2017 PSUs, FY2016 PSUs and FY2015 PSUs were achieved during the applicable performance period, fiscal 2017, 2016 and 2015, respectively, and accordingly, the dilutive effect of the shares were included in the computation of diluted weighted average shares outstanding.

Stock options and warrants are excluded from the computation of diluted weighted average shares outstanding if the exercise price of the stock options and warrants is greater than the average market price of our common stock during the period because the inclusion of these stock options and warrants would be antidilutive to net income per share. There were no stock options and warrants excluded from the computation of diluted weighted average shares outstanding during fiscal 2017, 2016 and 2015.

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,
	2017		2016		2015
Weighted average number of shares underlying antidilutive restricted stock units		2,000		92,000		—