COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE

Basic earnings (loss) per share is calculated by dividing net income (loss) associated with common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings (loss) per share assumes the issuance of additional shares of common stock by the Company upon exercise of all outstanding stock options and vesting of restricted stock, if the effect is dilutive, in accordance with the treasury stock method or two-class method (whichever is more dilutive). Refer to Note 1, Basis of Presentation, for additional information regarding the Company's computation of earnings (loss) per common share.

The following table sets forth the computation of basic and diluted earnings (loss) per common share for the three and six months ended September 30, 2017 and 2018:



	Three Months Ended September 30,					Six Months Ended September 30,
(in thousands, except per share data)	2017		2018			2017		2018
Basic earnings (loss) per common share:
Numerator:
Net income (loss)	$	19,953	$	(86,709	)	$	38,781	$	(72,238	)

Denominator:
Weighted average common shares, basic	32,570		39,281			32,538		35,938
Dilutive effect of employee equity incentive plans	239		—			573		—
Weighted average common shares-diluted	32,809		39,281			33,111		35,938

Basic earnings (loss) per common share	$	0.59	$	(2.21	)	$	1.16	$	(2.01	)
Diluted earnings (loss) per common share	$	0.59	$	(2.21	)	$	1.14	$	(2.01	)

Potentially dilutive securities excluded from diluted earnings (loss) per common share because their effect is anti-dilutive	1,389		567			959		385