v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenue $ 7,569 $ 10,106 $ 16,571 $ 23,143
Cost of revenue 5,990 5,913 11,746 13,015
Gross profit 1,579 4,193 4,825 10,128
Operating expenses        
Research and development 1,449 1,843 3,005 3,275
Sales and marketing 2,259 1,876 4,591 4,013
General and administrative 1,249 1,400 2,613 2,934
Intangible amortization 308 832 616 1,822
Total operating expenses 5,265 5,951 10,825 12,044
Operating profit (loss) (3,686) (1,758) (6,000) (1,916)
Other income, net 125 165 289 284
Income (loss) before income taxes (3,561) (1,593) (5,711) (1,632)
Income tax benefit (expense) 0 (10) (7) (10)
Net income (loss) from continuing operations (3,561) (1,603) (5,718) (1,642)
Income from discontinued operations, net of tax [1]   (138)   (138)
Net income (loss) (2) [2] $ (3,561) $ (1,741) $ (5,718) $ (1,780)
Basic net income (loss) from continuing operations $ (0.23) $ (0.10) $ (0.37) $ (0.11)
Basic net income (loss) from discontinued operations 0.00 (0.01) 0.00 (0.01)
Basic (0.23) (0.11) (0.37) (0.11) [3]
Diluted net income (loss) from continuing operations (0.23) (0.10) (0.37) (0.11)
Diluted net income (loss) from discontinued operations 0.00 (0.01) 0.00 (0.01)
Diluted $ (0.23) $ (0.11) $ (0.37) $ (0.11) [3]
Weighted-average number of common shares outstanding:        
Basic (shares) 15,512 15,583 15,483 15,602
Effect of dilutive securities: restricted stock, restricted stock units, performance stock units and stock options (4) [4] 0 0 0 0
Diluted (shares) 15,512 15,583 15,483 15,602
[1] See Note 1 for additional information regarding discontinued operations.
[2] Net income (loss) and comprehensive income (loss) are the same for the periods reported.
[3] Per share amounts may not sum to totals due to rounding.
[4] The Company had 0.9 million shares represented by common stock equivalents for the three and six months ended September 30, 2019, and 1.0 million for the three and six months ended September 30, 2018, 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.

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