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EARNINGS PER SHARE ("EPS")
 3 Months Ended
Jun. 29, 2019
Earnings Per Share [Abstract]  
EARNINGS PER SHARE (EPS)
6. EARNINGS PER SHARE (“EPS”)

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.
 
Three Months Ended
 (In thousands, except per share amounts)
June 29,
2019
 
June 30,
2018
Basic EPS
 
 
 
Net loss
$
(8,479
)
 
$
(2,819
)
Weighted average shares
51,010

 
52,119

Basic loss per share
$
(0.17
)
 
$
(0.05
)
Diluted EPS
 
 
 
Net loss
$
(8,479
)
 
$
(2,819
)
Basic weighted average shares
51,010

 
52,119

Net effect of common stock equivalents
—

 
—

Diluted weighted average shares
51,010

 
52,119

Diluted loss per share
$
(0.17
)
 
$
(0.05
)


Basic earnings per share is calculated using the Company's weighted-average outstanding common stock. Diluted earnings per share is calculated using its weighted-average outstanding common stock including the dilutive effect of stock awards as determined under the treasury stock method. For both the three months ended June 29, 2019 and June 30, 2018, the Company recognized a net loss; therefore it excluded the impact of outstanding stock awards from the diluted loss per share calculation as its inclusion would have an anti-dilutive effect.

Share Repurchase Program

In May 2019, the Company's Board of Directors authorized the repurchase of up to $500 million of Haemonetics common shares over the next two years.

In early June 2019, the Company entered into an accelerated share repurchase agreement ("ASR") with Citibank N.A. ("Citibank") to repurchase approximately $75.0 million of the Company’s common stock. Pursuant to the terms of the ASR, in June 2019, the Company paid Citibank $75.0 million in cash and received an initial delivery of approximately 0.6 million shares of the Company's common stock based on a closing market price on the New York Stock Exchange on June 3, 2019 of $97.45. This initial delivery of shares represented approximately 80% of the notional amount of the ASR. On July 30, 2019, the ASR was completed and an additional 29,018 shares were delivered upon settlement. The total number of shares repurchased under the ASR was approximately 0.6 million at an average price per share upon final settlement of $116.33.

As of August 6, 2019, the total remaining authorization for repurchases of the Company's common stock under the share repurchase program was $425 million.