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Earnings Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share

12. EARNINGS PER SHARE

A summary of the calculation of basic and diluted earnings per share for the three and six months ended June 30, 2018 and 2017 is as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

(In thousands, except per share amounts)

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(7,670

)

 

$

12,401

 

 

$

(18,484

)

 

$

19,052

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares – basic

 

 

47,856

 

 

 

48,036

 

 

 

48,043

 

 

 

48,232

 

Effect of dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

—

 

 

 

279

 

 

 

8

 

 

 

348

 

PSUs, RSUs and restricted stock

 

 

46

 

 

 

98

 

 

 

40

 

 

 

95

 

Weighted average number of shares – diluted

 

 

47,902

 

 

 

48,413

 

 

 

48,091

 

 

 

48,675

 

Net income (loss) per share – basic

 

$

(0.16

)

 

$

0.26

 

 

$

(0.38

)

 

$

0.40

 

Net income (loss) per share – diluted

 

$

(0.16

)

 

$

0.26

 

 

$

(0.38

)

 

$

0.39

 

 

Anti-dilutive options to purchase common stock outstanding were excluded from the above calculations. Anti-dilutive options totaled 5.0 million and 4.1 million for the three months ended June 30, 2018 and 2017, respectively, and 4.8 million and 4.1 million for the six months ended June 30, 2018 and 2017.