Annual report pursuant to Section 13 and 15(d)

Income/Loss Per Share

v3.19.1
Income/Loss Per Share
12 Months Ended
Mar. 31, 2019
Earnings Per Share [Abstract]  
Income/Loss Per Share
Basic earnings per share calculation is based on the weighted-average number of common shares outstanding. Diluted earnings per share calculation is based on the weighted-average number of common shares outstanding adjusted by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued. Potentially dilutive shares of common stock include stock options and Platinum Warrant.     
The following table presents the basic and diluted weighted-average number of shares of common stock (amounts in thousands, except per share data):
 
 
Fiscal Years Ended March 31,
 
 
2019
 
2018
 
2017
Numerator
 
 
 
 
 
 
Net income (1)
 
$
206,587

 
$
254,127

 
$
47,157

Denominator:
 
 
 
 
 
 
Weighted-average common shares outstanding:
 
 

 
 

 
 

Basic
 
57,840

 
52,798

 
46,552

Assumed conversion of employee stock grants
 
1,242

 
2,291

 
2,235

Assumed conversion of warrants
 

 
3,551

 
6,602

Diluted
 
$
59,082

 
$
58,640

 
$
55,389

 
 
 
 
 
 
 
Net income per basic share (1)
 
$
3.57

 
$
4.81

 
$
1.01

 
 
 
 
 
 
 
Net income per diluted share (1)
 
$
3.50

 
$
4.33

 
$
0.85

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(1) Fiscal years ending March 31, 2018 and 2017 adjusted due to the adoption of ASC 606.
Common stock equivalents that could potentially dilute net income per basic share in the future, but were not included in the computation of diluted earnings per share because the impact would have been anti-dilutive, were as follows (amounts in thousands):
 
 
Fiscal Years Ended
March 31,
 
 
2019
 
2018
 
2017
Assumed conversion of employee stock grants
 

 
71

 
771