NET INCOME (LOSS) PER SHARE

Calculations of the basic and diluted net income (loss) per share and potential common shares are as follows (in thousands, except for per share data):



	Three Months Ended					Nine Months Ended
	December 31,					December 31,
	2018			2017		2018			2017
Numerator:
Net income (loss)	$	(3,603	)	$	89,685	$	(92,535	)	$	62,995
Denominator:
Denominator for basic net income (loss) per share - weighted average common shares outstanding	77,774			87,210		78,916			88,985
Dilutive common equivalent shares:
Weighted average restricted stock units	—			650		—			897
Denominator for diluted net income (loss) per share - weighted average shares outstanding	77,774			87,860		78,916			89,882
Net income (loss) per share:
Basic net income (loss) per share	$	(0.05	)	$	1.03	$	(1.17	)	$	0.71
Diluted net income (loss) per share	$	(0.05	)	$	1.02	$	(1.17	)	$	0.70

The following table sets forth restricted stock units excluded from the calculation of diluted net income (loss) per share, since their inclusion would be anti-dilutive (in thousands):



	Three Months Ended		Nine Months Ended
	December 31,		December 31,
	2018	2017	2018	2017
Restricted stock units	435	1,873	733	1,405

Basic net income (loss) per share is calculated by dividing net loss by the weighted average number of shares outstanding during the period. Unvested restricted shares, although legally issued and outstanding, are not considered outstanding for purposes of calculating basic earnings per share. Diluted net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares outstanding plus the dilutive effect, if any, of outstanding stock options, restricted shares and restricted stock units using the treasury stock method. The calculation of the dilutive effect of outstanding equity awards under the treasury stock method includes consideration of proceeds from the assumed exercise of stock options and unrecognized compensation expense as additional proceeds. As we incurred a net loss in the three and nine months ended December 31, 2018, all outstanding restricted stock units have an anti-dilutive effect and are therefore excluded from the computation of diluted weighted average shares outstanding.