v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenue $ 10,106 $ 17,232 $ 23,143 $ 33,806
Cost of revenue 5,913 9,957 13,015 19,764
Gross profit 4,193 7,275 10,128 14,042
Operating expenses        
Research and development 1,843 2,205 3,275 4,481
Sales and marketing 1,876 1,992 4,013 4,328
General and administrative 1,400 1,809 2,934 3,520
Intangible amortization 832 1,048 1,822 2,095
Restructuring Charges   165 0 165
Total operating expenses 5,951 7,219 12,044 14,589
Operating profit (loss) (1,758) 56 (1,916) (547)
Other income, net 165 677 [1] 284 720 [1]
Income (loss) before income taxes (1,593) 733 (1,632) 173
Income tax benefit (expense) (10) (13) (10) (25)
Net income (loss) from continuing operations (1,603) 720 (1,642) 148
Discontinued Operations:        
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest (138)   (138)  
Net income (loss) $ (1,741) $ 720 $ (1,780) $ 148
Basic net income (loss) per share:        
Basic net income (loss) from continuing operations $ (0.10) $ 0.05 $ (0.11) $ 0.01
Basic net income (loss) from discontinued operations (0.01)   (0.01)  
Basic (0.11) 0.05 (0.11) [2] 0.01
Earnings Per Share, Diluted [Abstract]        
Diluted net income (loss) from continuing operations (0.10) 0.05 (0.11) 0.01
Diluted net income (loss) from discontinued operations (0.01)   (0.01)  
Diluted $ (0.11) $ 0.05 $ (0.11) [2] $ 0.01
Weighted-average number of common shares outstanding:        
Basic (shares) 15,583 15,461 15,602 15,471
Effect of dilutive securities: restricted stock, restricted stock units, performance stock units and stock options (3) [3] 0 211 0 167
Diluted (shares) 15,583 15,672 15,602 15,638
[1] During the quarter ended September 30, 2017, the Company dissolved the NoranTel legal entity, which triggered a one-time foreign currency gain with the reversal of a cumulative translation adjustment. See Note 1.
[2] Per share amounts may not sum to totals due to rounding.
[3] The Company had 1.0 million shares represented by common stock equivalents for both the three and six months ended September 30, 2018, and 0.4 million and 0.5 million shares represented by common stock equivalents for the three and six months ended September 30, 2017, respectively, 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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