Earnings Per Share

Basic earnings per share is computed based on the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted-average number of shares of common stock outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method, which includes stock options and restricted stock units. In loss periods, the assumed exercise of in-the-money stock options and restricted stock units has an anti-dilutive effect, and therefore these instruments are excluded from the computation of diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended June 30,
(In thousands, except per share data)	2017		2016
Numerator
Net income (loss)	$	33,759	$	(5,531	)

Denominator
Denominator for basic earnings per share — weighted average shares outstanding	53,038		52,881
Dilutive effect of unvested restricted stock units and options issued to employees and directors	471		—
Denominator for diluted earnings per share	53,509		52,881

Earnings per Common Share:
Basic net earnings (loss) per share	$	0.64	$	(0.10	)

Diluted net earnings (loss) per share	$	0.63	$	(0.10	)

For the three months ended June 30, 2017 and 2016, there were 0.4 million and 0.7 million shares, respectively, attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive.