EARNINGS PER SHARE ("EPS")

9 Months Ended

Dec. 26, 2015

EARNINGS PER SHARE (“EPS”)

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.



	Three Months Ended
(In thousands, except per share amounts)	December 26, 2015			December 27, 2014
Basic EPS
Net (loss) income	$	(59,440	)	$	15,988
Weighted average shares	50,741			51,432
Basic (loss) income per share	$	(1.17	)	$	0.31
Diluted EPS
Net (loss) income	$	(59,440	)	$	15,988
Basic weighted average shares	50,741			51,432
Net effect of common stock equivalents	—			530
Diluted weighted average shares	50,741			51,962
Diluted (loss) income per share	$	(1.17	)	$	0.31



	Nine Months Ended
(In thousands, except per share amounts)	December 26, 2015			December 27, 2014
Basic EPS
Net (loss) income	$	(46,844	)	$	19,827
Weighted average shares	50,927			51,521
Basic (loss) income per share	$	(0.92	)	$	0.38
Diluted EPS
Net (loss) income	$	(46,844	)	$	19,827
Basic weighted average shares	50,927			51,521
Net effect of common stock equivalents	—			503
Diluted weighted average shares	50,927			52,024
Diluted (loss) income per share	$	(0.92	)	$	0.38

Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. For the three and nine months ended December 26, 2015, we recognized a net loss; therefore we excluded the impact of outstanding stock awards from the diluted loss per share calculation as their inclusion would have an anti-dilutive effect. Weighted average shares outstanding, assuming dilution, excludes the impact of 1.7 million and 1.6 million anti-dilutive shares for the three and nine months ended December 27, 2014, respectively.