Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share (EPS)

v2.4.1.9
Earnings Per Share (EPS)
 9 Months Ended
Dec. 31, 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
December 31,
   
Nine Months Ended
December 31,
 
   
2014
    
2013
    
2014
    
2013
  
                 
Loss from continuing operations
  
$
(1,124
)
  
$
(994
)
  
$
(3,388
)
  
$
(2,508
)
                                 
Net income/(loss) from discontinued operations, net of taxes
    
-
      
(10
)
    
-
      
145
  
                                 
Net loss applicable to common stockholders
  
$
(1,124
)
  
$
(1,004
)
  
$
(3,388
)
  
$
(2,363
)
                                 
Weighted-average common shares used in per share computation
    
2,932
      
1,963
      
2,478
      
1,955
  
                                 
Net loss per share from continuing operations:
                                
Basic and diluted
  
$
(0.38
)
  
$
(0.51
)
  
$
(1.37
)
  
$
(1.28
)
Net income/(loss) per share from discontinued operations:
                                
Basic and diluted
  
$
-
    
$
-
 
  
$
-
    
$
0.07
  
Net loss per share:
                                
Basic and diluted
  
$
(0.38
)
  
$
(0.51
)
  
$
(1.37
)
  
$
(1.21
)

The following shares of common stock equivalents and warrants were excluded from the computation of diluted earnings per share for the nine months ended December 31, 2014 and 2013 because including them would have been anti-dilutive.

   
December 31,
2014
    
December 31,
2013
  
         
Outstanding Options
    
673,676
      
300,926
  
Outstanding RSUs
    
239,297
      
126,654
  
ESPP
    
-
      
-
  
     
912,973
      
427,580
  
                 
Warrants - Sequel
    
92,888
      
92,888
  
Warrants
    
27,405
      
-
  
                 
Shares Excluded from EPS calculation
    
1,033,266
      
520,468
  

The weighted-average exercise price per share of the excluded outstanding options and outstanding and deferred RSUs was $6.88 and $9.99 on December 31, 2014 and 2013, respectively.  The warrants to purchase 92,888 shares of common stock had an exercise price of $3.15 per share, and represented the balance of Sequel Power’s grant, which expired unexercised on 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.