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Computation of Net Income (Loss) per Share
 12 Months Ended
Mar. 31, 2012
Earnings per Share [Abstract]  
Earnings per Share [Text Block]

12. Computation of Net Income (Loss) per Share

 

Basic and diluted earnings (loss) per share are calculated as follows (in thousands, except per share amounts):

   Year Ended March 31,
   2012 2011 2010
 Net income (loss) $ 30,306 $ 36,647 $ (677)
 Weighted average shares - basic   31,344   31,235   31,005
 Weighted average shares - diluted (1)   32,496   32,008   31,005
 Net income (loss) per share - basic $ 0.97 $ 1.17 $ (0.02)
 Net income (loss) per share - diluted $ 0.93 $ 1.14 $ (0.02)
           
           
 (1) Includes approximately 1,152,000 and 773,000 common equivalent shares from stock options for fiscal 2012 and 2011, respectively. For fiscal 2010, outstanding options and restricted stock units to purchase 5,220,473 shares were not included in the diluted net loss per share calculation as their inclusion would have been anti-dilutive.

Basic net income (loss) available per common share is computed using net income (loss) and the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is computed using net income (loss) and the weighted average number of common shares outstanding, assuming dilution, which includes potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include the assumed exercise of stock options and assumed vesting of restricted stock units using the treasury stock method. In fiscal 2012 and fiscal 2011, there were outstanding options to purchase 1,098,314 and 2,003,579 shares, respectively, at weighted average exercise prices of $12.99 and $11.31 per share, respectively, that were not included in the computation of dilutive net income per share since the exercise prices of the options exceeded the market price of the common stock and thus their inclusion would be anti-dilutive. These options could dilute earnings per share in future periods if the market price of the common stock increases. Due to our net loss for fiscal 2010, outstanding options and restricted stock units to purchase 5,220,473 shares were not included in the diluted net loss per share calculation as their inclusion would have been anti-dilutive.