Net (Loss) Income Per Share

3 Months Ended

Jun. 30, 2018

Net (Loss) Income Per Share [Abstract]

Net (Loss) Income Per Share

12. Net (Loss) Income Per Share

Basic net (loss) income per share is computed by dividing net (loss) income by the weighted average number of shares of common stock outstanding during the period. Diluted net (loss) income per share includes the effect, if any, from the potential exercise or conversion of securities, such as stock options and warrants, which would result in the issuance of incremental shares of common stock.

The following presents a reconciliation of basic and diluted net (loss) income per share:

	Three Months Ended June 30,
	2018			2017
Net (loss) income	$	(5,014,000	)	$	8,151,000
Basic shares		18,895,847			18,655,304
Effect of potentially dilutive securities		-			766,048
Diluted shares		18,895,847			19,421,352
Net (loss) income per share:
Basic net (loss) income per share	$	(0.27	)	$	0.44
Diluted net (loss) income per share	$	(0.27	)	$	0.42

The effect of dilutive options excludes (i) 1,380,598 shares subject to options with exercise prices ranging from $4.17 to $34.17 per share for the three months ended June, 30, 2018 and (ii) 111,172 shares subject to options with exercise prices ranging from $30.31 to $34.17 per share for the three months ended June, 30, 2017, which were anti-dilutive.