EARNINGS PER SHARE ("EPS")

3 Months Ended

Jul. 01, 2017

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)	July 1, 2017		July 2, 2016
Basic EPS
Net income (loss)	$	20,137	$	(10,346	)
Weighted average shares	52,443		51,021
Basic income (loss) per share	$	0.38	$	(0.20	)
Diluted EPS
Net income (loss)	$	20,137	$	(10,346	)
Basic weighted average shares	52,443		51,021
Net effect of common stock equivalents	368		—
Diluted weighted average shares	52,811		51,021
Diluted income (loss) per share	$	0.38	$	(0.20	)

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 months ended July 1, 2017, weighted average shares outstanding, assuming dilution, excludes the impact of 0.7 million anti-dilutive shares. For the three months ended July 2, 2016, 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.