Annual report pursuant to Section 13 and 15(d)

Net Income (Loss) per Common Share

v2.4.1.9
Net Income (Loss) per Common Share
 12 Months Ended
Mar. 31, 2015
Earnings Per Share [Abstract]  
Net Income (Loss) per Common Share
Net Income per Common Share
Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during each period. Diluted net income per share is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding (if dilutive) during each period. The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assumed that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share for fiscal 2015, 2014, and 2013 the only periods in which the performance stock units were outstanding.
The reconciliation of the denominators used to calculate basic EPS and diluted EPS for fiscal 2015, fiscal 2014, and fiscal 2013, respectively, is as follows:
 
 
Year Ended March 31, 2015
 
Year Ended March 31, 2014
 
Year Ended March 31, 2013
Basic net income per common share
 
 
 
 
 
 
Net income
 
$
49,386

 
$
25,799

 
$
26,974

Weighted-average common shares outstanding
 
32,027,115

 
31,595,019

 
30,796,675

Basic net income per common share
 
$
1.54

 
$
0.82

 
$
0.88

 
 
Year Ended March 31, 2015
 
Year Ended March 31, 2014
 
Year Ended March 31, 2013
Diluted net income per common share
 
 

 
 

 
 
Net income
 
$
49,386

 
$
25,799

 
$
26,974

Weighted-average common shares outstanding
 
32,027,115

 
31,595,019

 
30,796,675

Common share equivalents:
 
 
 
 
 
 
Stock options issued
 
291,018

 
502,886

 
953,710

Restricted and performance stock units issued
 
89,133

 
56,007

 
46,445

Weighted average shares outstanding – dilutive
 
32,407,266

 
32,153,912

 
31,796,830

Diluted net income per common share
 
$
1.52

 
$
0.80

 
$
0.85


For the years ended March 31, 2015 and 2014, 48,728 and 168,118 equity awards, respectively, were not included in the calculation of diluted net income per common share since they would have had an anti-dilutive effect. In fiscal 2013, all equity awards were dilutive and included in the calculation above.