Net Income (Loss) Per Share

Basic earnings (loss) per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period plus dilutive securities. Dilutive securities include outstanding common stock options and unvested restricted stock units, less the number of shares that could have been purchased with the proceeds from the exercise of the options, using the treasury stock method. Options that are anti-dilutive, where their exercise price exceeds the average market price of the common stock are not included in the treasury stock method calculation. There were no anti-dilutive securities for the three months ended June 30, 2018 and 2017. There were 1,548 and 61 anti-dilutive securities for the six months ended June 30, 2018 and 2017, respectively.

The following table presents the calculation of net earnings (loss) per common share (“EPS”) — basic and diluted (in thousands, except per share data):



	Three months ended June 30,					Six months ended June 30,
	2018		2017			2018		2017
Net income (loss)	$	31,054	$	(37,060	)	$	35,929	$	18,803
Weighted-average number of common shares outstanding (for basic calculation)	20,352		19,821			20,304		19,153
Dilutive securities	1,217		—			1,232		1,159
Weighted-average common and common equivalent shares outstanding (for diluted calculation)	21,569		19,821			21,536		20,312
EPS — basic	$	1.53	$	(1.87	)	$	1.77	$	0.98
EPS — diluted	$	1.44	$	(1.87	)	$	1.67	$	0.93