Earnings Per Share

Basic income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted income (loss) per share adjusts the basic income (loss) per share for the effects of any potentially dilutive securities in periods in which the Company has net income and such effects are dilutive under the treasury stock method.

Following is a summary of the components of basic and diluted income (loss) per share for the periods presented:



	Three Months Ended June 30,						Nine Months Ended June 30,
in thousands, except per share data	2019			2018			2019			2018
Numerator:
Income (loss) from continuing operations	$	11,625		$	13,429		$	(81,885	)	$	(105,530	)
Loss from discontinued operations, net of tax	(23		)	(20		)	(64		)	(450		)
Net income (loss)	$	11,602		$	13,409		$	(81,949	)	$	(105,980	)

Denominator:
Basic weighted-average shares	30,250			32,147			30,926			32,113
Dilutive effect of restricted stock awards	225			500			—			—
Dilutive effect of stock options	14			79			—			—
Diluted weighted-average shares ^(a)	30,489			32,726			30,926			32,113

Basic income (loss) per share:
Continuing operations	$	0.38		$	0.42		$	(2.65	)	$	(3.29	)
Discontinued operations	—			—			—			(0.01		)
Total	$	0.38		$	0.42		$	(2.65	)	$	(3.30	)

Diluted income (loss) per share:
Continuing operations	$	0.38		$	0.41		$	(2.65	)	$	(3.29	)
Discontinued operations	—			—			—			(0.01		)
Total	$	0.38		$	0.41		$	(2.65	)	$	(3.30	)

^(a) The following potentially dilutive shares were excluded from the calculation of diluted income (loss) per share as a result of their anti-dilutive effect. Due to the reported net loss for the nine months ended June 30, 2019 and June 30, 2018, all common stock equivalents were excluded from the computation of diluted loss per share for those periods because inclusion would have resulted in anti-dilution.



	Three Months Ended June 30,		Nine Months Ended June 30,
in thousands	2019	2018	2019	2018
Stock options	406	204	529	532
Time-based restricted stock	94	170	643	850
Performance-based restricted stock	—	—	796	646