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Earnings Per Share
 9 Months Ended
Aug. 31, 2016
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share

We compute basic earnings per share using the weighted average number of common shares outstanding. We compute diluted earnings per share using the weighted average number of common shares outstanding plus the effect of outstanding dilutive stock options, restricted stock units and deferred stock units, using the treasury stock method. The following table sets forth the calculation of basic and diluted earnings per share on an interim basis (in thousands, except per share data):

 
Three Months Ended
 
Nine Months Ended
 
August 31,
2016
 
August 31,
2015
 
August 31,
2016
 
August 31,
2015
Net income (loss)
$
7,576

 
$
(4,126
)
 
$
18,067

 
$
670

Weighted average shares outstanding
48,611

 
50,120

 
49,765

 
50,377

Dilutive impact from common stock equivalents
524

 
—

 
545

 
740

Diluted weighted average shares outstanding
49,135

 
50,120

 
50,310

 
51,117

Basic earnings per share
$
0.16

 
$
(0.08
)
 
$
0.36

 
$
0.01

Diluted earnings per share
$
0.15

 
$
(0.08
)
 
$
0.36

 
$
0.01



We excluded stock awards representing approximately 287,000 shares and 423,000 shares of common stock from the calculation of diluted earnings per share in the three and nine months ended August 31, 2016, respectively, because these awards were anti-dilutive. In the three and nine months ended August 31, 2015, we excluded stock awards representing 1,173,000 shares and 296,000 shares of common stock, respectively, from the calculation of diluted earnings per share as they were anti-dilutive.