EARNINGS PER SHARE ("EPS")

9 Months Ended

Dec. 31, 2016

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					Nine Months Ended
(In thousands, except per share amounts)	December 31, 2016		December 26, 2015			December 31, 2016		December 26, 2015
Basic EPS
Net income (loss)	$	15,393	$	(59,440	)	$	24,872	$	(46,844	)
Weighted average shares	51,708		50,741			51,369		50,927
Basic income (loss) per share	$	0.30	$	(1.17	)	$	0.48	$	(0.92	)
Diluted EPS
Net income (loss)	$	15,393	$	(59,440	)	$	24,872	$	(46,844	)
Basic weighted average shares	51,708		50,741			51,369		50,927
Net effect of common stock equivalents	395		—			302		—
Diluted weighted average shares	52,103		50,741			51,671		50,927
Diluted income (loss) per share	$	0.30	$	(1.17	)	$	0.48	$	(0.92	)

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 31, 2016, weighted average shares outstanding, assuming dilution, excludes the impact of 1.1 million and 1.7 million anti-dilutive shares, respectively. 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.