Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (EPS)

v2.4.0.8
Earnings Per Share (EPS)
6 Months Ended
Sep. 30, 2014
Earnings Per Share (EPS) [Abstract]  
Earnings Per Share (EPS)
2.    Earnings Per Share (EPS):

Basic EPS is computed by dividing net 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.

Basic net 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 loss per common share:

   
Three Months Ended
   
Six Months Ended
 
   
September 30,
   
September 30,
 
   
2014
   
2013
   
2014
   
2013
 
                 
Loss from continuing operations
 
$
(1,016
)
 
$
(836
)
 
$
(2,264
)
 
$
(1,515
)
                                 
Net income from discontinued operations, net of taxes
   
-
     
273
     
-
     
155
 
                                 
Net loss applicable to common stockholders
 
$
(1,016
)
 
$
(563
)
 
$
(2,264
)
 
$
(1,360
)
Weighted-average common shares used in per share computation
   
2,929
     
1,953
     
2,245
     
1,953
 
                                 
Net loss per share from continuing operations:
                               
Basic and diluted
 
$
(0.35
)
 
$
(0.43
)
 
$
(1.01
)
 
$
(0.78
)
Net income per share from discontinued operations:
                               
Basic and diluted
 
$
-
   
$
0.14
   
$
-
   
$
0.08
 
Net loss per share:
                               
Basic and diluted
 
$
(0.35
)
 
$
(0.29
)
 
$
(1.01
)
 
$
(0.70
)

Including 63,671 shares of vested and deferred RSUs, there are outstanding options and RSUs of 735,118 and 442,529 shares of common stock at a weighted-average exercise price per share of $6.70 and $10.14 on September 30, 2014 and 2013, respectively, were not included in the computation of diluted net loss per common share for each of the three month periods presented as a result of their anti-dilutive effect.  Also, warrants to purchase 92,888 shares of common stock with a weighted average exercise price of $3.15 per share were not included in the computation of diluted net loss per common share.  These warrants, which represent the balance of Sequel Power’s grant, expire January 14, 2015.  In addition, the outstanding balance excludes 27,405 warrants to purchase shares of common stock, which were issued in connection with the recent public offering, which closed on June 25, 2104.  These warrants have an exercise price of $2.50 per share and are not exercisable until June 24, 2015 and expire June 24, 2020.  Such securities could potentially dilute earnings per share in future periods.