v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Revenue $ 10,722 $ 13,675 $ 33,865 $ 47,481
Cost of revenue 6,132 7,599 19,147 27,363
Gross profit 4,590 6,076 14,718 20,118
Operating expenses        
Research and development 1,736 1,542 5,011 6,023
Sales and marketing 1,999 1,950 6,012 6,278
General and administrative 1,738 1,502 4,672 5,022
Intangible amortization 830 1,047 2,652 3,142
Restructuring Charges     0 165
Total operating expenses 6,303 6,041 18,347 20,630
Operating profit (loss) (1,713) 35 (3,629) (512)
Other income, net 158 79 442 799 [1]
Income (loss) before income taxes (1,555) 114 (3,187) 287
Income tax benefit (expense) (1) 685 [2] (11) 660 [2]
Net income (loss) from continuing operations (1,556) 799 (3,198) 947
Discontinued Operations:        
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest     (138)  
Net income (loss) $ (1,556) $ 799 $ (3,336) $ 947
Basic net income (loss) per share:        
Basic net income (loss) from continuing operations $ (0.10) $ 0.05 $ (0.21) $ 0.06
Basic net income (loss) from discontinued operations 0.00   (0.01)  
Basic (0.10) 0.05 (0.21) [3] 0.06
Earnings Per Share, Diluted [Abstract]        
Diluted net income (loss) from continuing operations (0.10) 0.05 (0.21) 0.06
Diluted net income (loss) from discontinued operations 0.00   (0.01)  
Diluted $ (0.10) $ 0.05 $ (0.21) [3] $ 0.06
Weighted-average number of common shares outstanding:        
Basic (shares) 15,524 15,504 15,576 15,482
Effect of dilutive securities: restricted stock, restricted stock units, performance stock units and stock options (4) [4] 0 251 0 197
Diluted (shares) 15,524 15,755 15,576 15,679
[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] During the quarter ended December 31, 2017, the Company had income tax benefit from the release of the tax valuation allowance associated with previously generated alternative minimum tax (AMT) credits due to the enacted Tax Reform. See Note 9.
[3] Per share amounts may not sum to totals due to rounding.
[4] The Company had 1.1 million shares and 1.0 million shares represented by common stock equivalents for the three and nine months ended December 31, 2018, and 0.2 million and 0.4 million shares represented by common stock equivalents for the three and nine months ended December 31, 2017, respectively. 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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