Earnings Per Share (EPS)

12 Months Ended

Mar. 31, 2014

Earnings Per Share (EPS) [Abstract]

Earnings Per Share (EPS)

Note 4.  Earnings Per Share (EPS)

Basic EPS is computed by dividing income (loss) available to common stockholders (numerator) by the weighted-average number of common shares outstanding (denominator) for the period. Diluted EPS gives effect to all dilutive potential common shares outstanding during the period. The computation of diluted EPS uses the average market prices during the period. All amounts in the following table are in thousands except per share data.  The weighted-average number of shares and the (loss) income per share reflect a 1-for-5 reverse stock split effected by the Company on June 15, 2011.

Basic net income (loss) per common share is computed using the weighted-average number of shares of common stock outstanding.

The following table represents the calculation of basic and diluted net income (loss) per common share (in thousands, except per share data):

	Year Ended March 31,
	2014			2013
Loss from continuing operations	$	(3,469	)	$	(3,973	)
Net income from discontinued operations, net of taxes		155			45
Net loss applicable to common stockholders	$	(3,314	)	$	(3,928	)
Basic and diluted:
Weighted-average common shares outstanding		1,965			1,856
Weighted-average common shares used in per share computation		1,965			1,856
Net loss per share from continuing operations:
Basic and diluted	$	(1.77	)	$	(2.14	)
Net income per share from discontinued operations:
Basic and diluted	$	0.08		$	0.02
Net loss per share:
Basic and diluted	$	(1.69	)	$	(2.12	)

Outstanding options, warrants and RSUs of 500,809 and 448,986, at a weighted-average exercise price of $10.17 and $7.23, as of March 31, 2014 and 2013, respectively, were not included in the computation of diluted net (loss) income per common share for the periods presented as a result of their anti-dilutive effect.  Such securities could potentially dilute earnings per share in future periods.