Earnings Per Share

9 Months Ended

Aug. 31, 2015

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. As we incurred a net loss during the three months ended August 31, 2015, basic and diluted weighted average shares outstanding are the same. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):



	Three Months Ended					Nine Months Ended
	August 31, 2015			August 31, 2014		August 31, 2015		August 31, 2014
Net (loss) income	$	(4,126	)	$	11,095	$	670	$	34,994
Weighted average shares outstanding	50,120			50,383		50,377		50,975
Dilutive impact from common stock equivalents	—			548		740		615
Diluted weighted average shares outstanding	50,120			50,931		51,117		51,590
Basic (loss) earnings per share	$	(0.08	)	$	0.22	$	0.01	$	0.69
Diluted (loss) earnings per share	$	(0.08	)	$	0.22	$	0.01	$	0.68

We excluded stock awards representing approximately 1,173,000 shares and 296,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2015, respectively, because these awards were anti-dilutive. In the three and nine months ended August 31, 2014, we excluded stock awards representing 351,000 shares and 383,000 shares of common stock, respectively, from the calculation of diluted earnings per share.