COMPUTATION OF EARNINGS 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 2, Significant Accounting Policies, 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 years ended March 31, 2019, 2018, and 2017:



(in thousands, except earnings per share data)	Fiscal Year Ended March 31,
	2017		2018			2019
Numerator:
Net income (loss)	$	82,599	$	(869	)	$	(135,561	)

Denominator:
Weighted average common shares-basic	32,279		32,345			37,569
Dilutive effect of employee equity incentive plans	684		—			—
Weighted average shares-diluted	32,963		32,345			37,569

Basic earnings (loss) per common share	$	2.56	$	(0.03	)	$	(3.61	)
Diluted earnings (loss) per common share	$	2.51	$	(0.03	)	$	(3.61	)

Potentially dilutive securities excluded from diluted earnings (loss) per share because their effect is anti-dilutive	574		543			616