Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.6.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Income Statement [Abstract]        
Revenue $ 14,983 $ 20,215 $ 47,579 $ 67,299
Cost of revenue (1) 8,929 12,252 30,593 [1] 40,676
Gross profit 6,054 7,963 16,986 26,623
Operating expenses:        
Research and development 2,414 4,893 10,018 14,604
Sales and marketing 1,943 3,900 8,220 11,209
General and administrative 1,777 2,627 6,340 8,089
Intangible amortization 1,212 1,418 3,613 4,249
Restructuring 490   3,055 17
Impairment of Long-Lived Assets to be Disposed of 0 0 1,181 0
Total operating expenses 7,836 12,838 32,427 38,168
Operating profit (loss) (1,782) (4,875) (15,441) (11,545)
Other income (expense), net (15) 85 76 62
Income (loss) before income taxes and discontinued operations (1,797) (4,790) (15,365) (11,483)
Income tax benefit (expense) (10) (7) (20) 75
Net income (loss) from continuing operations (1,807) (4,797) (15,385) (11,408)
Discontinued Operations:        
Income from discontinued operations, net of income tax of $172 for the nine months ended December 31, 2015       272
Net income (loss) (2) [2] $ (1,807) $ (4,797) $ (15,385) $ (11,136)
Basic net income (loss) per share:        
Basic net income (loss) from continuing operations $ (0.03) $ (0.08) $ (0.25) $ (0.19)
Basic net income (loss) from discontinued operations 0.00 0.00 0.00 0.00
Basic net income (loss) (3) (0.03) (0.08) (0.25) (0.18) [3]
Diluted net income (loss) per share:        
Diluted net income (loss) from continuing operations (0.03) (0.08) (0.25) (0.19)
Diluted net income (loss) from discontinued operations 0.00 0.00 0.00 0.00
Diluted net income (loss) (3) $ (0.03) $ (0.08) $ (0.25) $ (0.18) [3]
Weighted-average number of common shares outstanding:        
Basic (shares) 61,564 60,810 61,260 60,765
Effect of dilutive securities: restricted stock, restricted stock units, performance stock units and stock options (4) [4] 0 0 0 0
Diluted (shares) 61,564 60,810 61,260 60,765
[1] The nine months ended December 31, 2016, includes $1.6 million of E&O expense for ClearLink DAS inventory and pipeline inventory.
[2] Net income (loss) and comprehensive income (loss) are the same for the periods reported.
[3] Totals may not sum due to rounding.
[4] The Company had 4.1 million and 5.1 million shares represented by common stock equivalents for the three and nine months ended December 31, 2016, and 3.6 million and 3.5 million shares represented by common stock equivalents for the three and nine months ended December 31, 2015, which were not included in the computation of average dilutive shares outstanding because they were anti-dilutive. In periods with a net loss from continuing operations, the basic loss per share equals the diluted loss per share as all common stock equivalents are excluded from the per share calculation.