Annual report pursuant to Section 13 and 15(d)

Earnings Per Share (EPS)

v2.4.0.6
Earnings Per Share (EPS)
 12 Months Ended
Mar. 31, 2012
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,
  
   
2012
    
2011
  
             
(Loss) from continuing operations
   $ (4,543 )   $ (1,709 )
                 
Income (loss) from discontinued operations, net of taxes
     3,114       (1,421 )
                 
Net (loss) applicable to common stockholders
   $ (1,429 )   $ (3,130 )
Basic and diluted:
                
Weighted-average common shares outstanding
     1,689       1,689  
                 
Net (loss) per share from continuing operations:
                
Basic and diluted
   $ (2.69 )   $ (1.01 )
                 
Net income/(loss) income per share from discontinued operations:
                
Basic and diluted
   $ 1.84     $ (0.84 )
                 
Net (loss) per share:
                
Basic and diluted
   $ (0.85 )   $ (1.85 )
 
Outstanding options, warrants and Restricted Stock Units ("RSUs") of 365,580 and 329,700, at a weighted-average exercise price of $8.85 and $13.65, on March 31, 2012 and 2011, 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.