EARNINGS (LOSS) PER SHARE

6 Months Ended

Jun. 30, 2016

The following are computations of basic and diluted loss per share (in thousands except for per share amounts):



	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2016		2015		2016			2015
Numerator for basic and diluted earnings per share:
Net income (loss)	$	3,966	$	10,395	$	(16,905	)	$	3,306

Denominator:
Basic shares outstanding	57,549		58,590		57,599			58,732
Dilutive effect of equity-based compensation awards	129		120		—			100
Dilutive shares outstanding	57,678		58,710		57,599			58,832

Basic earnings (loss) per share:	$	0.07	$	0.18	$	(0.29	)	$	0.06

Diluted earnings (loss) per share:	$	0.07	$	0.18	$	(0.29	)	$	0.06

For the three months ended June 30, 2016 and 2015, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the EPS calculations above except for 348,197 and 196,180, respectively, of outstanding performance stock awards for which the performance criteria were not attained at that time and 9,537 and 11,075, respectively, of restricted stock awards which were antidilutive at that time.

As a result of the net loss reported for the six months ended June 30, 2016, all then outstanding stock options, restricted stock awards and performance awards totaling 886,685 were excluded from the calculation of diluted earnings (loss) per share as their inclusion would have an antidilutive effect.

For the six months ended June 30, 2015, the dilutive effect of all then outstanding options, restricted stock and performance awards is included in the EPS calculations above except for 196,180 of outstanding performance stock awards for which the performance criteria were not attained at that time and 38,171 of restricted stock awards which were antidilutive at that time.