Earnings Per Share

6 Months Ended

Nov. 30, 2015

EARNINGS PER SHARE

Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of potential common stock. In addition, diluted earnings per share include the dilutive effect of potential common stock consisting of stock options, restricted stock units and performance stock units, provided that the inclusion of such securities is not antidilutive. In periods with a net loss, stock options and restricted stock units are not included in the computation of diluted loss per share as the impact would be anti-dilutive.

The following table reconciles basic to diluted weighted-average shares outstanding for the three and six months ended November 30, 2015 and 2014 (in thousands):



	Three Months Ended		Six Months Ended
	Nov 30, 2015	Nov 30, 2014	Nov 30, 2015	Nov 30, 2014
Basic	36,140	35,595	36,051	35,475
Effect of dilutive securities	—	532	—	537
Diluted	36,140	36,127	36,051	36,012

Securities excluded as their inclusion would be anti-dilutive	3,161	911	3,161	2,306