Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Revenue $ 17,780 $ 25,514 $ 32,596 $ 47,084
Cost of revenue (1) 11,413 [1] 15,283 21,664 [1] 28,424
Gross profit 6,367 10,231 10,932 18,660
Operating expenses:        
Research and development 3,327 4,625 7,604 9,711
Sales and marketing 2,896 4,113 6,277 7,309
General and administrative 2,218 2,493 4,563 5,462
Intangible amortization 1,201 1,432 2,401 2,831
Restructuring 2,601   2,565 17
Impairment of Long-Lived Assets to be Disposed of 0 0 1,181 0
Total operating expenses 12,243 12,663 24,591 25,330
Operating profit (loss) (5,876) (2,432) (13,659) (6,670)
Other income (expense), net 74 (61) 91 (23)
Income (loss) before income taxes and discontinued operations (5,802) (2,493) (13,568) (6,693)
Income tax benefit (expense) (8) 20 (10) 82
Net income (loss) from continuing operations (5,810) (2,473) (13,578) (6,611)
Discontinued Operations:        
Income from discontinued operations, net of income tax of $172 for the six months ended September 30, 2015       272
Net income (loss) (2) [2] $ (5,810) $ (2,473) $ (13,578) $ (6,339)
Basic net income (loss) per share:        
Basic net income (loss) from continuing operations $ (0.09) $ (0.04) $ (0.22) $ (0.11)
Basic net income (loss) from discontinued operations 0.00 0.00 0.00 0.00
Basic net income (loss) (3) (0.09) (0.04) (0.22) (0.10) [3]
Diluted net income (loss) per share:        
Diluted net income (loss) from continuing operations (0.09) (0.04) (0.22) (0.11)
Diluted net income (loss) from discontinued operations 0.00 0.00 0.00 0.00
Diluted net income (loss) (3) $ (0.09) $ (0.04) $ (0.22) $ (0.10) [3]
Weighted-average number of common shares outstanding:        
Basic (shares) 61,199 60,783 61,108 60,743
Effect of dilutive securities: restricted stock, restricted stock units, performance stock units and stock options (4) [4] 0 0 0 0
Diluted (shares) 61,199 60,783 61,108 60,743
[1] The three and six months ended September 30, 2016, includes $0.2 million and $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 5.3 million and 5.7 million shares represented by common stock equivalents for the three and six months ended September 30, 2016, and 3.7 million and 3.5 million shares represented by common stock equivalents for the three and six months ended September 30, 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.