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 March 31,						Six Months Ended March 31,
in thousands, except per share data	2020			2019			2020			2019
Numerator:
Income (loss) from continuing operations	$	10,615		$	(100,832	)	$	13,419		$	(93,510	)
Loss from discontinued operations, net of tax	(1		)	(30		)	(59		)	(41		)
Net income	$	10,614		$	(100,862	)	$	13,360		$	(93,551	)

Denominator:
Basic weighted-average shares	29,868			30,714			29,808			31,263
Dilutive effect of restricted stock awards	97			—			250			—
Dilutive effect of stock options	10			—			20			—
Diluted weighted-average shares ^(a)	29,975			30,714			30,078			31,263

Basic income (loss) per share:
Continuing operations	$	0.36		$	(3.28	)	$	0.45		$	(2.99	)
Discontinued operations	—			—			—			—
Total	$	0.36		$	(3.28	)	$	0.45		$	(2.99	)

Diluted income (loss) per share:
Continuing operations	$	0.35		$	(3.28	)	$	0.45		$	(2.99	)
Discontinued operations	—			—			—			—
Total	$	0.35		$	(3.28	)	$	0.45		$	(2.99	)

^(a) The following potentially dilutive shares were excluded from the calculation of diluted income per share as a result of their anti-dilutive effect. Due to the reported net loss for the three and six months ended March 31, 2019, 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 March 31,		Six Months Ended March 31,
in thousands	2020	2019	2020	2019
Stock options	360	529	227	529
Time-based restricted stock	284	645	52	645
Performance-based restricted stock	—	796	—	796