7. Earnings Per Share

Basic earnings per share (“EPS”) is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if dilutive securities were exercised into common stock. Stock options, restricted stock, performance unit awards, restricted stock units and deferred stock units are considered dilutive securities. For the three and six months ended June 30, 2018, 0.1 million shares and in the three and six months ended June 30, 2017, 0.2 million shares of such securities, respectively, were outstanding but were not included in the computation of diluted earnings per share because the effect would be antidilutive. The following table sets forth the computation of basic and diluted earnings per share (in thousands, except per share data):

	For the Three Months Ended					For the Six Months Ended
	June 30,					June 30,
	2018			2017		2018			2017
Numerator:
Net (loss) Income	$	(97	)	$	5,096	$	(51,537	)	$	(183,498	)
Denominator:
Denominator for basic earnings per share -
weighted average shares		36,925			36,673		36,895			36,659
Effect of dilutive securities:
Employee stock options and restricted stock		-			200		-			-
Denominator for diluted earnings per share -
Adjusted weighted average shares and the effect of dilutive securities		36,925			36,873		36,895			36,659
Net loss per share:
Net loss per share - basic	$	(0.00	)	$	0.14	$	(1.40	)	$	(5.01	)
Net loss per share - diluted ⁽¹⁾	$	(0.00	)	$	0.14	$	(1.40	)	$	(5.01	)

(1)

As a result of the net loss in the three and six months ended June 30, 2018, and the six months ended June 30, 2017, the effect of potentially dilutive securities would have been anti-dilutive and have been omitted from the calculation of diluted earnings per share.