Earnings (Loss) Per Share (EPS)

Basic EPS was computed by dividing net income or loss by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share was computed under the treasury stock method, assuming the conversion as of the beginning of the period, for all dilutive stock options. Diluted EPS was computed by dividing net income by the sum of the weighted average number of shares of common stock outstanding and potentially dilutive securities outstanding during the period under the treasury stock method. Potentially dilutive securities include stock options and restricted stock units and shares that the Company is contractually obligated to issue in the future.

The following table indicates the computation of basic and diluted earnings per share:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2018		2017		2018		2017
Calculation of net income (loss) per share:
Net income (loss)	$	15,534	$	3,534	$	31,743	$	5,795
Weighted average shares outstanding	49,559		49,133		49,527		49,100
Basic income (loss) per share	$	0.31	$	0.07	$	0.64	$	0.12

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,559		49,133		49,527		49,100
Effect from dilutive shares and options outstanding	558		826		517		769
Diluted weighted average shares outstanding	50,117		49,959		50,044		49,869
Diluted income (loss) per share	$	0.31	$	0.07	$	0.63	$	0.12

The computation of diluted EPS does not include certain unvested awards, on a weighted average basis, because their inclusion would have an anti-dilutive effect on EPS. The awards excluded because of their anti-dilutive effect were as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2018	2017	2018	2017
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive	13	—	60	94