EARNINGS (LOSS) PER SHARE (Tables)

3 Months Ended

Jun. 30, 2015

Components of Basic and Diluted Earnings (Loss) Per Share

The components of basic and diluted earnings (loss) per share for the quarters ended June 30, are as follows:


	Quarter Ended June 30,

(In thousands, except share and per share data)		2015		2014
Net income (loss) available to common shareholders	$	(15,052	)	43,673
Weighted average outstanding shares of common stock, basic		46,981,747		49,580,038
Dilutive effect of options and restricted stock awards and units		—		282,986
Weighted average common stock and equivalents		46,981,747		49,863,024

Earnings (loss) per share, basic (A)	$	(0.32	)	0.88
Earnings (loss) per share, diluted (B)	$	(0.32	)	0.88

Additional information:
Antidilutive incremental options and restricted stock awards and units		268,227		—

(A)

The company calculates “earnings per share, basic” by dividing “net income available to common shareholders” by “Weighted average outstanding share of common stock, basic”.

(B)

The company calculates “Earnings per share, diluted” by dividing “net income available to common shareholders” by “Weighted average common stock and equivalents”.