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.