Earnings (Loss) Per Share ("EPS")

Basic EPS was computed by dividing net income or loss by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share was computed under the treasury stock method, assuming the conversion as of the beginning of the period, for all dilutive stock options. Diluted EPS was computed by dividing net income by the sum of the weighted average number of shares of common stock outstanding and potentially dilutive securities outstanding during the period under the treasury stock method. Potentially dilutive securities include stock options and restricted stock units and shares that the Company is contractually obligated to issue in the future.

The following table indicates the computation of basic and diluted earnings per share for the years ended December 31, 2017, 2016 and 2015:



	Years Ended December 31,
(in thousands, except per share amounts)	2017		2016			2015
Calculation of net income (loss) per share:
Net income (loss)	$	66,390	$	(895	)	$	40,864
Weighted average shares outstanding	49,150		48,807			48,388
Basic income (loss) per share	$	1.35	$	(0.02	)	$	0.84

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,150		48,807			48,388
Effect from dilutive shares and options outstanding	876		—			636
Diluted weighted average shares outstanding	50,026		48,807			49,024
Diluted income (loss) per share	$	1.33	$	(0.02	)	$	0.83

Due to the net loss for the year ended December 31, 2016, no adjustment was made to basic shares, for potentially dilutive securities, as such an adjustment would have been anti-dilutive.

The computation of diluted EPS does not include certain unvested awards, on a weighted average basis, because their inclusion would have an anti-dilutive effect on EPS. The awards excluded because of their anti-dilutive effect are as follows:



	Years Ended December 31,
(in thousands)	2017	2016	2015
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive	21	800	92