EARNINGS (LOSS) PER SHARE

The following are computations of basic and diluted earnings (loss) per share (in thousands except for per share amounts):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2017		2016		2017		2016
Numerator for basic and diluted earnings (loss) per share:
Net income (loss)	$	25,880	$	3,966	$	4,487	$	(16,905	)

Denominator:
Basic shares outstanding	57,190		57,549		57,226		57,599
Dilutive effect of equity-based compensation awards	146		129		123		—
Dilutive shares outstanding	57,336		57,678		57,349		57,599

Basic earnings (loss) per share:	$	0.45	$	0.07	$	0.08	$	(0.29	)

Diluted earnings (loss) per share:	$	0.45	$	0.07	$	0.08	$	(0.29	)

For the three months ended June 30, 2017 and 2016, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the EPS calculations above except for 142,503 and 348,197, respectively, of outstanding performance stock awards for which the performance criteria were not attained at that time and 14,699 and 9,537, respectively, of restricted stock awards which were antidilutive at that time.

For the six months ended June 30, 2017, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the EPS calculations above except for 142,503 of outstanding performance stock awards for which the performance criteria were not attained at that time and 21,013 of restricted stock awards which were antidilutive at that time.

As a result of the net loss reported for the six months ended June 30, 2016, all then outstanding stock options, restricted stock awards and performance awards totaling 886,685 were excluded from the calculation of diluted earnings (loss) per share as their inclusion would have an antidilutive effect.